Innotek reports loss of $4.46mn for Q1-2012 on a 15.2% fall in revenue to $70.36mn.....results highlights and takeaways from results briefing...
Tuesday, 15 May, 2012 1:56 PM
Posted by Kevin Scully
Innotek announced a set of disappointing Q1-2012 results.
Highlights of the Q1-2012 results and analysts briefing were:
a) revenue declined by 15.2% to $70.4mn
b) company reported a net loss of $4.1mn compared to a profit of $0.8mn in Q1-2011.
c) the decline was attributed to a fall in its gross profit margin to 12.8% from 15.8% due to lower revenue from supply chain disruptions from the floods in Thailand, change in product mix to lower margin products, higher raw material prices and wages in PRC, retrenchment costs associated with divestment of certain businesses and higher sell and distribution expenses.
d) EPS was -1.99 cents while ......
