Friday 29 Mar 2024
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KUALA LUMPUR (Dec 2): Semiconductor test equipment maker UWC Bhd registered a net profit of RM23.04 million for its first quarter ended Oct 31, 2021 (1QFY22), which was 6.15% higher than RM21.71 million recorded in the same quarter last year, thanks to increased contribution from the semiconductor business segment, as well as the resumption of its operations at full capacity from Aug 20, according to its statement on Thursday (Dec 2).

Earnings per share, however, fell to 2.09 sen from 3.95 sen, according to a bourse filing, as the company had undertaken a one-for-one bonus issue to reward its shareholders back in December 2020.

Revenue increased slightly by 5.3% from RM71.5 million last year to RM75.26 million for the quarter.

Compared to its preceding quarter ended July 31 2021 (4QFY21), UWC’s net profit and revenue had improved by 17.87% and 17.7%, from RM19.55 million and RM63.94 million respectively. 

“The group’s balance sheet remains very healthy with a total net cash of RM52.1 million and a current ratio of 5.55 times,” it said in the statement.

“UWC has yet again posted strong results for the first quarter for which I am pleased with the outcome. This will kick off our 2022 financial year with a good head start. Advancing forward, we believe the catalyst for UWC will be the higher end of the value chain such as front-end semiconductor, autonomous chip tester and 5G testers over the next few years.

“In terms of life sciences, UWC maintains a positive outlook of this industry, as we continue to develop other medical equipment to test mutated Covid-19 strains, given our current involvement in the manufacturing of medical and diagnostic testing and virus extraction machines. We are also working on a few new products including DNA analysers which are in the research and development stage,” UWC’s executive director and group chief executive officer (CEO) Datuk Ng Chai Eng said in the statement.

Ng added that its new Taiping factory is expected to increase UWC’s capacity, while the group has also invested into computer numerical control (CNC) machineries to automate the production process, as well as its new land acquisition in Batu Kawan Industrial Park, which is expected to double UWC’s production capacity for more high valued projects. 

“To conclude, the group and management remain devoted to bringing continuous growth to UWC, as we emerge stronger despite the disruption from the pandemic,” he added.

Shares of UWC were unchanged at RM5.81 on Thursday (Dec 2), giving it a market capitalisation of RM6.39 billion.

Edited ByLam Jian Wyn
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