Micro-Mechanics announced their half year results on 6th February (here). Seeing that this is their first major earnings call since my purchase in early October (initiation report here), I would like to examine their results a little further. Fantastic Earnings Micro-Mechanics reported a 6.7% increase in revenue and a 6.8% increase in profits for the period July 2016 till December 2016. While that alone looks pretty impressive, we have to dive a little deeper to understand why it is fantastic. First of all, revenue growth is broad-based. Only Europe, China and Taiwan saw declines in revenue in 1H16, and the latter 2 countries had already rebounded as of the second quarter.

Source: Micro-Mechanics 1H17 results

Next, recall that I had mentioned in my initiation report that Micro-Mechanics had ceased their loss-making CMA business? The company also discussed the result briefly in their commentary: ......