KUALA LUMPUR (Feb 25): Unisem (M) Bhd's net profit fell 26.6% to RM23.49 million in the fourth quarter ended Dec 31, 2018 (4QFY18) from RM32.02 million a year ago, on lower sales volume.

This resulted in a lower earnings per share of 3.23 sen for 4QFY18 compared with 4.36 sen for 4QFY17.

Quarterly revenue also slipped 7.2% to RM331.82 million from RM357.41 million in 4QFY17.

Nevertheless, the semiconductor assembly and test services provider has proposed a final dividend of 3 sen per share for the financial year ended Dec 31, 2018 (FY18), subject to shareholders' approval at the forthcoming annual general meeting. 

For full FY18, Unisem's net profit came in 39.9% lower at RM95.83 million, compared with RM159.46 million in FY17, while revenue contracted 7.8% to RM1.35 billion, from RM1.47 billion in FY17.

The group attributed the decrease in revenue and net profit for FY18 to the depreciation of the USD/MYR exchange rates compared with the prevailing rates a year ago. 

On prospects, Unisem expects its performance to “remain satisfactory for the next financial year”.

Shares in Unisem finished one sen or 0.32% down at RM3.09 today, for a market capitalisation of RM2.25 billion. At its current price, the stock has recovered about 85%, from its 2018 low of RM1.666 on May 7, 2018.