Chris Borch, chief executive officer of Micro-Mechanics, says the global semiconductor industry continued to work through excess inventory that had been built up during the industry’s recent cyclical slowdown. “Although the group experienced a decrease in quarterly revenue, we delivered higher net profit for 3QFY2024 due to our diligent efforts to control costs.”
Micro-Mechanics (Holdings), a manufacturer of high-precision tools and parts for the semiconductor industry, has posted net profit of $1.8 million for 3QFY2024 ended March 31, 12.8% higher y-o-y.
This comes despite an 8.7% decline in group revenue to $13.6 million during the quarter.
