The group attributes this quarter’s revenue contraction to an acute strategic component shortage, "board conflicts" and the absence of income post its divestment of Racer in 2017.
SINGAPORE (May 9): Trek 2000 reported earnings of US$0.5 million ($0.67 million) for the 1Q ended March, down more than half from its 1Q17 earnings of US$1.2 million due to a fourfold decline in revenue.
Revenue fell 79.9% to US$8.4 million from US$41.8 million previously from reduced revenue in the Interactive Consumer Solutions (ICS) division, which accounted for 89.4% of group revenue in 1Q and has higher gross profit margin when compared to other segments.
