Quarterly Results

 

Quarterly Report For The Financial Period Ended 30 September 2017

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Unaudited Condensed Consolidated Statement Of Financial Position As At 30 September 2017

Unaudited Condensed Consolidated Statement Of Financial Position As At 30 September 2017 Notes:

(a) The unaudited condensed Consolidated Statement of Financial Position should be read in conjunction with the audited financial statements for the financial year ended 30 September 2016 and the interim notes attached to this interim financial report.

(b) Based on 438,850,000 ordinary shares in issue.

(c) Share premium is reclassified to share capital in accordance with Section 618(2) of the Companies Act 2016.

Unaudited Condensed Consolidated Statement Of Profit Or Loss And Other Comprehensive Income For The Quarter Ended 30 September 2017

Unaudited Condensed Consolidated Statement Of Profit Or Loss And Other Comprehensive Income For The Quarter Ended 30 September 2017 Notes:

(a) The Unaudited Condensed Consolidated Statement of Profit or Loss and Other Comprehensive Income should be read in conjunction with the audited financial statements for the financial year ended 30 September 2016 and the interim notes attached to this interim financial report.

(b) Based on 438,850,000 ordinary shares in issue as disclosed in Note B11.

(c) There is no diluted earnings per share as the Company does not have any dilutive potential shares as at the end of the current reporting period ended 30 September 2017.

Review of Performances

Review of Performances
Comparison with the preceding year corresponding quarter

In this quarter ("Q4FY17"), the Group has achieved an increase of 96% in the revenue as compared to the corresponding quarter in the previous financial year ("Q4FY16").

The increase is mainly driven by the growing customers' demand on our ATE, especially Amoeba 4600 (enterprise storage market segment) and Amoeba 7600 (smartphone and tablet market segment), which contributed approximately 70% of the Q4FY17 revenue.

With the increase of revenue and better gross profit margin recorded, we managed to achieve a profit after tax of RM2.097 million in this quarter.

Comparison with the corresponding financial period in the previous financial year

The Group has achieved a significant increase of RM18.084 million or 82% in total revenue, from RM21.984 million in the previous financial year to RM40.068 million in the current financial year. Growing customers' orders from the enterprise storage, smartphone and tablet market segments this year contributed significantly to the Group's revenue growth, supported by double digit revenue growth in the Far East region.

From a recorded loss in the previous financial year, the Group successfully turnaround into profit this year with RM7.551 million profit after tax recorded. The profit is mainly driven by the 82% growth in revenue, but was offset partially by the rising of research & development ("R&D") and administrative expenses for the current financial year.

R&D expenses grew by 44% to RM5.123 million in the current financial year as compared to RM3.571 million in the previous financial year, in tandem with the spending for R&D activities such as materials, design fee and staff cost to enhance the existing products portfolio and to develop new tester platform. Administrative expenses have increased this year as we continued to focus on talent building to support our business growth and expansion in the Far East region.

Prospects

Aemulus continues to create growth through innovation and leadership in the ATE markets for semiconductor devices. The launching of our new RF tester, Amoeba 7600-S combines our latest technology with scalability. We believe that the technology is going to be able to serve the smartphone and tablet market well especially in the Far East region.

Based on the current business trend, demand for ATE from the smartphone and tablet segments as well as the enterprise storage segment is expected to continue into 2018. The group is expecting revenue growth to further accelerate in fiscal year 2018, led by ATE sales growth in the Far East region with US region complementing it.

The financial results in fiscal year 2017 indicates that sales and marketing efforts in the Far East region were encouraging, achieving the target we established at the beginning of the fiscal year. We shall continue the effort in fiscal year 2018 together with increasing sale and marketing effort in USA Region. The group targets to achieve double digit revenue growth from the Far East in fiscal year 2018.

We do not expect the revenue from the enterprise storage segment to continue increasing by threefold in fiscal year 2018. Barring any unforeseen circumstances, revenue contributed by this segment is expected to be consistent with 2017 and remain as one of the major contributors to our revenue in fiscal year 2018. We are channelling the ATEs serving this market to other vertical markets as well.