Driven by enhanced cost controls and an expansion of WiFi module applications, the group’s gross profit rose 85.9% y-o-y to US$6.7 million. Correspondingly, the group’s gross profit margin improved from 10.9% for 1Q16 to 16.0% for 1Q17.
SINGAPORE (May 9): ThumbDrive inventor Trek 2000 International reported a 68% increase in 1Q earnings to US$1.2 million ($1.7 million) from US$0.7 million a year ago.
Revenue rose 27.2% to $41.8 million, led by the group’s Interactive Consumer Solutions (ICS) segment – which includes cloud-based initiatives and interactive consumer electronics – and an increase in licensing fees. Accounting 98.5% of the overall revenue for the quarter, the group’s ICS division continues to be the key revenue generator.
