lnari Amertron posts record high net profit in 3Q

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KUALA LUMPUR (Nov 25): lnari Amertron Bhd posted record high quarterly profit at RM33.76 million in the first financial quarter ended Sept 30, a 60% jump on RM21.03 million posted in the previous corresponding period.

The semiconductor firm is optimistic to maintain its financial performance and deliver positive results for the financial year ending June 30, 2015, said Inari in its result release to the stock exchange.

Earnings per share (EPS) expanded to six sen for the quarter from 4.69 sen a year ago. Quarterly revenue grew 16% to RM221.88 million from RM191.34 million.

The semiconductor firm attributed the improved profit on higher revenue from its radio frequency business, as well as favourable foreign exchange and gold prices (its key input costs).

Inari has declared the first single-tier interim dividend of 1.8 sen per share and a special dividend of 0.4 sen per share totaling 2.2 sen per share.

On its outlook, Inari said it will continue to integrate and improve the margin of its opto-electronics business and the new fibre optics business unit.

“With a good balance of mature, and new services and products offerings, we are progressing well as an enlarged entity in the EMS [electronics manufacturing services] industry,” it said in a filing with Bursa Malaysia this evening.

Shares in Inari Amertron has rebounded by 36% from the recent low of RM2.12 on Oct 16 to close at RM2.88 today, giving it a market capitalisation of RM1.77 billion. The stock has surged 77.5% year to date from RM1.60 in January.

Inari Amertron has interest in back-end semiconductor packaging, which comprises back- end wafer processing, package assembly and radio frequency final testing for the electronics and semiconductor industry. Its customers are primarily in the wireless communication segment.