ISDN Holdings has reported revenue of $94.7 million for 1QFY2022 ended March, down 3.8%.
Even so, earnings for the same period was up 5.8% y-o-y to $6.4 million, thanks partly to better gross margins of 27.9%, up 0.9 points from 1QFY2021.
“Despite the significant challenges of operating while under Covid-19 restrictions in our China operations, we are pleased that our employees were able to react with agility to mitigate impact on our business,” says managing director and president Teo Cher Koon (picture).
He says the company continues to see “solid demand” for industrial automation across its customer base, which has helped build a strong order book.
“We hope that with the lifting of pandemic restrictions in China underway, we can return to normal operations and focus on meeting demand,” adds Teo.
ISDN closed June 10 at 58 cents, down 0.88% for the day and down 22.22% year to date.
