KUALA LUMPUR (Aug 22): Inari Amertron Bhd achieved a 68% surge in its net profit to RM65.62 million, or 3.31 sen per share, for the fourth quarter ended June 30, 2017 (4QFY17) from RM39.92 million or 2.02 sen per share a year ago on higher demand of its products and gain from disposal of quoted shares.

The big jump on the fourth quarter's earnings lifted Inari's annual profit to a high of RM227.85 million for the financial year ended June 30, 2017 (FY17).

Meanwhile, its quarterly revenue expanded 34.4% to RM345.65 million from RM257.21 million a year ago amid higher demand for its current and new products.

This was in line with continued growth in the global semiconductor industry this year, Inari said in a filing with the stock exchange this evening.

The semiconductor firm noted that its net profit had been offset by higher depreciation cost.

Inari declared a fourth interim single tier dividend of 2.3 sen per share and a special dividend of 0.5 sen per share, bringing the total dividend declared for the quarter to 2.8 sen, compared with 2.2 sen in the previous corresponding quarter.

Its full-year dividend pay-out is 11.68 sen per share, 3.92 sen higher than the 2016 payout.

For FY17, the semiconductor manufacturer's net profit surged nearly 54% to a record high of RM227.85 million from RM148.25 million a year ago.

Annual revenue climbed 12.8% to an all-time high of RM1.18 billion from RM1.04 billion in FY16.

Inari closed 1 sen or 3.4% higher at RM2.50, with a market capitalisation of RM5.01 billion.