Sunright, which provides burn-in and test services for the semiconductor industry, yesterday reported a sharp rise in net profit to $9.2 million from $1.4 million last year.
Revenue for the 12 months ended July 31 was up 14 per cent at $148 million, due to higher revenue in the burn-in, testing and electronic manufacturing services segment.
Raw materials and consumables used, as well as changes in inventories of finished goods and work-in-progress, rose by 15 per cent to $34.6 million, to support the increased sales.
Employee benefits expense increased by 8 per cent, mainly due to adjustments to wage rates, higher staff compensation to support the increased revenue, improved staff welfare, training and skills upgrading to raise productivity and production efficiency.
Depreciation rose by 14 per cent to $22.6 million, as more machinery and test equipment were bought during the current financial year.
Earnings per share swelled to 7.5 cents from 1.1 cents previously, while net asset value per share climbed by 5.8 cents to 63.1 cents.
Sunright expects to perform satisfactorily this financial year, citing the global growth in the semiconductor industry.
AT A GLANCE
NET PROFIT: $9.2 million (+567%)
REVENUE: $148 million (+14%)
DIVIDEND PER SHARE: 0.3 cent (+50%)
Worldwide semiconductor revenue is estimated to reach US$401.4 billion (S$543.4 billion) this year, representing an increase of 16.8 per cent from last year.
This will likely be a record year surpassing the US$400 billion mark, driven by improvements in the memory segment, it noted.
The firm has recommended a final dividend of 0.3 cent a share, up from 0.2 cent last year. Sunright shares ended 3.5 cents, or 6.2 per cent, higher at 60 cents. The results were announced after market closed.