Visdynamics shares tumble on lower Q3 net profit

PETALING JAYA:Shares of Visdynamics Holdings Bhd tumbled 13.64% this morning, after the group's net profit in the third quarter ended July 31, 2017 fell 32.2% to RM1.34 million, from RM1.97 million a year ago, due to lower revenue.
At 11.27am, the stock stood at RM1.14 with 3.5 million shares changing hands. Its market capitalisation stood at RM146.1 million.
Visdynamics, 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.
The group said the lower revenue was attributable to the decrease in sales of tray machines, which is part of its product mix that fetches higher selling price.