Micro-Mechanics (Holdings) Ltd (SGX: 5DD) is involved in the designing, manufacturing, and marketing of consumables and precision tools that are used in the semiconductor industry. On 29 October, the company released its financial results for its first quarter ended 30 September 2020 (1Q21) where it posted record quarterly revenue, with net profit jumping over 40% year-on-year. Let’s find out more right here. TL;DR: Record Quarterly Sales for Micro-Mechanics Here’s a summary of Micro-Mechanics’ latest earnings:

• Revenue for the first quarter rose 18.3% year-on-year to a record S$18.1 million due to growth in the global semiconductor industry.
• Quarterly net profit surged 42.3% to S$4.7 million, while free cash flow increased by 81.9% to S$4.9 million.
• There’s still plenty of growth ahead for Micro-Mechanics over the long run; according to VLSI Research, chip sales for the semiconductor sector could double to nearly US$1 trillion by 2030.

Strong Business Growth Revenue for the first quarter rose 18.3% year-on-year to a new high...