KUALA LUMPUR (Aug 28): Electronic-identification specialist Datasonic Group Bhd's net profit fell to RM12.36 million in the first quarter ended June 30, 2015 (1QFY16), from RM27.7 million a year earlier.
Revenue weakened to RM54.36 million, from RM71.56 million, Datasonic (fundamental: 2.2; valuation: 0.9) said in a filing with Bursa Malaysia today.
"The group's profit before taxation in the current financial quarter was lower on the basis of quarter on quarter comparison with that in the preceeding financial period, due to reduced revenue earned.
"RM48.93 million of the group's revenue in the current financial quarter is derived from the supply of smart cards, datapages, consumables and personalisation solution," Datasonic said.
Going forward, the group said unexpected changes in the currency exchange rates would have impact on operations.
"Nevertheless, the management is taking steps to minimise the impact of this. Barring this and any other unforeseen circumstances, the prospects for growth are expected to be satisfactory in the financial year ending March 31, 2016," it added.
At 12:30pm. shares in Datasonic rose two sen or 2% to settle at RM1.08, with 1.4 million shares traded.
The share price gives the company a market capitalisation of RM1.46 billion.
(Note: The Edge Research's fundamental score reflects a company's profitability and balance sheet strength, calculated based on historical numbers. The valuation score determines if a stock is attractively valued or not, also based on historical numbers. A score of 3 suggests strong fundamentals and attractive valuations.)