Quarterly Results

 

Quarterly Report For The Financial Period Ended 31 March 2018

Financials Archive

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Unaudited Condensed Consolidated Statement Of Financial Position As At 31 March 2018

Unaudited Condensed Consolidated Statement Of Financial Position As At 31 March 2018 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 2017 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 31 March 2018

Unaudited Condensed Consolidated Statement Of Profit Or Loss And Other Comprehensive Income For The Quarter Ended 31 March 2018 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 2017 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) Diluted earnings per share for the current financial period is calculated by dividing the profit for the financial period attributable to owners of the Company by the weighted average number of ordinary shares outstanding during the financial period adjusted for the effects of dilutive potential ordinary shares as disclosed in Note B11.

Review of Performances

Review of Performances
Comparison with the preceding year corresponding quarter

Revenue for this quarter ("Q2FY18") has increased 4% or RM0.484 million as compared to the preceding year corresponding quarter ("Q2FY17"). Demand for ATE from the enterprise storage segment, smartphone and tablet segments continue to drive the revenue growth in this quarter.

In tandem with the strengthening of Ringgit Malaysia against USD in this quarter, the Group recorded realised and unrealised foreign exchange loss of RM0.213 million and RM0.229 million respectively. Compared to Q2FY17, a realised foreign exchange gain of RM0.528 million was recorded. This explained the fluctuation of the other income and other expenses as compared to Q2FY17.

Research and development ("R&D") expenses have increased 20% or RM0.246 million as compared to Q2FY17. The administrative expenses also increased 10% or RM0.305 million. Both spending are vital for development of new product, enhancement of the existing product portfolio and to support business growth.

In summary, the Group's profit has experienced a decrease from RM2.373 million in Q2FY17 to RM1.775 million in Q2FY18.

Comparison with the corresponding financial period to date in the previous financial year

Revenue for this financial period ended March 2018 ("FPE2018") has increased 26% or RM4.329 million, as compared to the corresponding financial period in the previous financial year ("FPE2017"), driven mainly by the demand from the enterprise storage segment.

In terms of other income, the significant decrease was mainly attributed to the foreign exchange losses resulted from the strengthening of Ringgit Malaysia against USD in this financial period.

R&D expenses have increased approximately 31% or RM0.739 million in FPE2018 as compared to FPE2017. Meanwhile, the administrative expenses have increased 18% or RM1.035 million as compared to FPE2017. The Group continues its efforts on the development of new test platform, test solution, talent building and retention initiatives to support the business growth.

In summary, the Group recorded profit of RM2.799 million for this financial period as compared to RM3 million in the previous financial year.

Prospects

Our performance for the enterprise storage and smartphone & tablet segments have been encouraging this quarter. The revenue from the smartphone & tablet segment was lower as compared with the corresponding quarter of the preceding year. However the overall revenue increased due to growth from the remaining sectors.

Sales in the Far East region continue to grow in Q218 led by the smartphone & tablet market segment. However, we foresee near term challenges to our sales and marketing activities in the Far East region. We will continue to accelerate the development for new products and the improvement of existing products.

Our growth for FY2018 is expected to remain steady.