Memtech’s 1Q earnings nearly treble to $2.2 mil

SINGAPORE (April 27): Memtech International, the global components solution provider, says 1Q earnings nearly trebled to US$1.6 million ($2.2 million) from a year ago on higher revenue and margins.

Revenue for the three months ended March rose 9.8% to US$36.4 million, lifted by higher sales in the automotive & consumer electronics segments.

Sales contribution from the automotive segment increased to 49.6% from 48% to 49.6% while sales contribution from its consumer electronics segment increased to 32.2% from 28.6%.

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