<div class=newsTextDataWrapInner><p>KUALA LUMPUR (Dec 30): Multi-Code Electronics Industries (M) Bhd, which specialises in electronics-related parts in the automotive industry, slipped into the red for its first financial quarter ended Oct 21, 2014 (1QFY15), with a net loss of RM1.84 million compared with a net profit of RM2.01 million a year ago.</p></div>

<div class=newsTextDataWrapInner><p>&nbsp;<br />
Its revenue dropped 24.9% to RM20.32 million from RM27.07 million in 1QFY14.</p></div>

<div class=newsTextDataWrapInner><p>Loss per share was at 4.15 sen, compared with earnings per share of 4.54 sen a year ago.</p></div><div class=inPageAd id=div-gpt-ad-inpage></div>

<div class=newsTextDataWrapInner><p>In a filing with Bursa Malaysia today, Multi-Code said it incurred losses in the current quarter mainly due to lower revenue and higher operational costs.</p></div>

<div class=newsTextDataWrapInner><p>“The decrease in revenue was mainly due to a drop in demand for original equipment manufacturer (OEM) products in 1QFY15,” it added.</p></div>

<div class=newsTextDataWrapInner><p>Multi-Code said it is facing a slowdown in demand from its OEM customers amid operating in an increasing cost environment.</p></div>

<div class=newsTextDataWrapInner><p>“The group will continue its effort to mitigate the increasing costs. The board is cautious of the challenging operating conditions of the automotive sector,” it said.</p></div>

<div class=newsTextDataWrapInner><p>Multi-Code shares closed up 2 sen or 1.58% at RM1.29 today, giving it a market capitalisation of RM57.28 million.</p></div>


KUALA LUMPUR (Dec 30): Multi-Code Electronics Industries (M) Bhd, which specialises in electronics-related parts in the automotive industry, slipped into the red for its first financial quarter ended Oct 21, 2014 (1QFY15), with a net loss of RM1.84 million compared with a net profit of RM2.01 mil...

Multi-Code Electronics falls into the red in 1Q

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