SINGAPORE (Sept 22): Sunright, the provider of burn-in and test services for semiconductors and electronic components, reported earnings surged more than sixfold to $9.25 million in FY17 compared to $1.39 million in FY16.
In the 12 months ended July, revenue rose 14% to $148 million from $129 million the previous year, powered by growth in the automotive market which resulted in higher revenue in the burn-in, testing and electronic manufacturing services segment.
Raw materials and consumables used, as well as changes in inventories of finished goods and work-in-progress for FY17, increased 15% to $34.6 million from $30 million the same period last year to support the group’s increase in sales.
The group made adjustments to wage rates, increased staff compensation to support increased revenue, as well as improved staff welfare, training and skills upgrading to raise productivity and production efficiency.
This caused employee benefits expense for FY17 to increase 8% to $49.7 million compared to $45.8 million last year.
As at June 31, 2017, the group’s cash and cash equivalents stood at $45.4 million.
The management has recommended a final tax exempt divided of 0.3 cent.
Sam Lim, executive chairman and CEO of Sunright, says, “This accomplishment is a strong reflection of our product and process innovations. We are focusing on opportunities that drive growth and making strategic investments in technology.”
Shares in Sunright have risen by 83% since the start of the year, closing at 60 cents on Friday.
