SINGAPORE (Feb 9): Ellipsiz saw earnings increase 27% to $1.7 million in the second quarter ended Dec 31, from $1.3 million a year ago.
The stronger bottomline came on the back of 6% higher other income, 16% lower distribution expenses and 14% lower R&D expenses.
The group also saw net finance income of $11,000 compared to net finance expenses of $25,000.
Revenue fell 8% to $29.7 million in 2Q17, from $32.4 million a year ago.
This was mainly due to the non-recurrence of a sizeable order that its Distribution & Services Solution (DSS) division received in 2Q16.
Cash and cash equivalents stood at $45.0 million as at Dec 31, 2016.
Ellipsiz is declaring dividends of 2.5 cents per share for 1H17, comprising an interim dividend of 1.0 cent per share and an interim special dividend of 1.5 cents per share.
Looking ahead, the group says it remains cautious of its operating environment and performance prospects for the rest of FY2017.
“We shall, therefore, continue with prudent business management as well as building strong business fundamentals to achieve sustainable growth,” says Ellipsiz CEO Melvin Chan.
Ellipsiz closed 2.5 cents higher at 45 cents on Thursday.
