Despite the lower revenue, gross profit doubled to $33.4 million from $16.7 million, boosting gross profit margin to 13.7% from 6.1% in 1Q16.
SINGAPORE (May 4): Hi-P International, the consumer electronics manufacturer, has announced $8.4 million in earnings for the 1Q ended March on a surge in gross profit, reversing from the $12.4 million loss recorded a year ago.
Revenue for the quarter fell 11.4% to $244.2 million from $275.6 million a year ago, as assembly products with fewer component content were sold over the quarter compared to the previous year.
