However, during the quarter, the company booked an allowance of US$1.2 million on obsolete stocks. It had to bear with higher financing costs and adjust for lower fair value loss on its equity investments.
Semiconductor distributor Serial System has reported a 1% dip in revenue to US$221.8 million for its 1QFY2022 ended March, due to a shortage prevalent across the industry.
While revenue growth was crimped, the company was able to eke out better gross margins of 8.6 points, up from 7.7 points from 1QFY2021.
