This article first appeared in The Edge Financial Daily on February 26, 2019

KUALA LUMPUR: Globetronics Technology Bhd’s net profit fell 9.53% to RM21.87 million for the fourth quarter of financial year 2018 (4QFY18) ended Dec 31, 2018, from RM24.17 million a year earlier, on lower volume loadings of certain products from certain customers.

Earnings per share for the quarter fell to 3.28 sen from 3.78 sen previously, the integrated circuits manufacturer’s bourse filings showed. Revenue was down 21.52% to RM82.24 million, from RM104.79 million previously.

On prospects, Globetronics said “macroeconomic and general industry trends do not appear to offer additional support to the consumer market”.

“Based on the current customers’ forecast, we expect the group’s performance for the first half of 2019 (1H19) to reflect the current unfavourable end market environment and the subdued mobile/smartphone demand,” it said.