A better revenue mix and one-off gains helped send full-year earnings soaring 183 per cent at semiconductor equipment supplier Ellipsiz.
A one-time net gain of $7.1 million helped boost the company's net profit for the 12 months to June 30 to $13.5 million from $4.77 million a year ago.
If the one-time net gains were excluded, earnings for the year would be up 29 per cent to $6.4 million.
Revenue for the 12 months jumped 16 per cent to $144.5 million, boosted by an 83 per cent jump in sales from the firm's probe card solutions.
But growth was partially offset by a 9 per cent drop in turnover from its distribution and services solutions.
Revenue for the fourth quarter jumped 22 per cent to $37.3 million from $30.7 million.
The improved performance led Ellipsiz to recommend a final cash dividend of 0.18 cents a share and a special cash dividend of 0.18 cents a share.
"The building of our core competencies over the years had yielded fruits, and fiscal 2014 was our fifth consecutive profitable year," said chief executive Melvin Chan in a statement on Tuesday.
Earnings per share soared 184 per cent to 2.44 cents for the full year from 0.86 cents a year earlier, while net asset value per share jumped 12 per cent to 21.13 cents as at June 30.
Total operating expenses jumped 41 per cent to $39.8 million from $28.1 million for the year due to additional expenses incurred by new operations, higher research and development expenses and net finance expenses.
Other income soared to $14.6 million for the full year from $910,000 recorded a year earlier due to the completion of its acquisition of some business segments from Tokyo Cathode Laboratory Co.
The group's cash and cash equivalents (including fixed deposits held as securities) stood at $32 million as at June 30.
Ellipsiz, which provides probe card solutions and distribution and services solutions to the semiconductor, electronics manufacturing and telecommunications industries, said it is "cautiously optimistic" of its operating and performance prospects for the rest of the year.
"Business activities witnessed an upturn in recent months amid prospects of new device launches into the second half of 2014," the company said.
"As pricing pressure, intense competition, lack of product differentiation and availability of alternative solutions continued to weigh on businesses across the industries that the group operates in, we are progressing with building our core competencies."
Ellipsiz shares closed up 0.6 cents to 10.8 cents yesterday.
This article was first published on Aug 20, 2014.
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