One-time gain from acquisition boosts first quarter numbers at Ellipsiz

Tech firm Ellipsiz, which provides probe card solutions to the semiconductor industry, said its net profit for the first quarter ended Sept 30 jumped to $6.3 million, from $335,000 a year ago.

This was on the back of a one-off gain from an acquisition, the company said.

The group completed its acquisition of some business segments from Tokyo Cathode Laboratory Co on Aug 30. As a result, Ellipsiz recorded a one-time negative goodwill of $11.5 million.

The negative goodwill was the difference between the acquired business' total market value and the purchase price.

Excluding one-time income and expenses, the group had profit of $1.1 million from its operating activities, an increase of 227 per cent over the corresponding quarter last year.

Revenue for the quarter ended Sept 30 came in at $34.2 million, a 16 per cent rise over the same period a year ago.

Earnings per share for the quarter came in at 1.14 cents, up from 0.06 cents in the same quarter last year.

Net asset value per share was 20.09 cents, up from 18.9 cents as at June 30.

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