SINGAPORE (May 14): ISDN Holdings saw its earning treble to $5.2 million for the 1Q ended March, from $1.7 million a year ago.
This was mainly due to the strong growth in revenue as well as the absence of one-off listing expenses and net foreign exchange losses.
1Q18 revenue grew 12.6% to $76.2 million, from $67.7 million a year ago.
This was largely due to the growing demands for high-tech precision control systems from medical devices manufacturers, as well as growing customer base and higher orders, especially in China.
As at end March, cash and cash equivalents stood at $33.9 million.
“We are pleased to see positive results from our increased marketing efforts this quarter and we will continue leverage our comprehensive knowledge of engineering solutions and wide supplier base to take advantage of the trend towards intelligent manufacturing and factory automation,” says Teo Cher Koon, ISDN’s managing director and president.
Shares of ISDN closed flat at 21 cents on Monday.
