Visdynamics net profit lower in Q3

PETALING JAYA: Visdynamics Holdings Bhd saw a 32.2% decline in its net profit in the third quarter ended July 31, to RM1.34 million from RM1.97 million in the preceding year’s corresponding quarter, due to lower revenue.

The group, which is involved in the semiconductor industry, recorded a 7.1% dip in revenue to RM7.49 million against the RM8.07 million recorded in the same period last year, attributable to the decrease in sales of tray machines, which is part of its product mix that fetches higher selling price.

“In view of the positive outlook in the semiconductor industry and also the improved financial performance year to date, the board is confident to deliver a better performance in this financial year 2017,” Visdynamics said in a filing with the stock exchange.

As for the first nine months of the financial year, the group’s cumulative net profit almost doubled on the back of higher sales of machines, to RM4.21 million against the RM2.15 million registered in the same cumulative period last year.

Similarly, this also contributed to the 41.8% jump in revenue to RM22.31 million from RM15.73 million.

Visdynamics shares gained 4.76% to close at RM1.32 today with some 4.2 million shares changing hands.