Revenue for the latest quarter under review fell 36.3% to $22.3 million from $35 million previously on lower recognition of revenue compared to a year ago.
SINGAPORE (May 31): Hiap Seng Engineering declared larger 4Q losses of $9.8 million from its $1.8 million loss in 4Q17 due to a combination of declining turnover and gross profit margin, higher-than-expected operating costs, and a goodwill impairment from operations in Thailand.
The latest quarter’s results concludes FY18 with $18.9 million in losses compared to earnings of $2.5 million a year ago.
