SINGAPORE (Sept 21): Datapulse Technology, the Mainboard-listed producer of digital storage media in the Asia Pacific region, saw FY17 earnings more than triple to $3 million from $0.9 million a year ago on lower expenses and a one-off gain over the financial year.
The stronger bottomline comes despite a 45.6% decline in revenue over the full year to $12.7 million compared to $23.3 million in FY16, which the group attributes to weaker demand for media storage products and services.
Total operating expenses fell 29.5% to $16.5 million from $23.4 million in FY16, as cost of raw materials usage decreased accordingly with the lower revenue recognised. Depreciation was also lower due to more assets being fully depreciated, while there were also minimal property, plant and equipment investments over the financial year.
Notably, staff costs were reduced by 17.4% to $7.4 million from $8.9 million a year ago, while other operating expenses fell 41.3% to $3 million from $5.1 million in the previous year. These were both mainly attributable to lower businesses, along with cost management measures undertaken by the group, in addition to an exchange gain which was recognised over the year.
During the year in review, Datapulse recognised a one-off profit from discontinued operations, net of tax, of $5.6 million upon the completion of its disposal of One Global Inc (OGI).
As at July 31, the group’s earnings per share (EPS) was 1.38, more than threefold up from 0.41 cents for FY16, while its net asset value (NAV) per share stood at 22.79 cents, 5.7% higher compared to 21.57 cents in the same period a year ago.
Shares in Datapulse closed 1 cent lower at 30 cents on Thursday.
