Mainboard-listed Beyonics Technology, the integrated manufacturing services providers, reported net profit of $2 million for the three months ended Oct 31, 2009 (Q1 FY10).

Revenue, cost of sales and profit attributable to equity holders of the company decreased in Q1 FY10 compared to the corresponding period of the previous financial year (Q1 FY09) mainly due to the global economic downturn.

Revenue from the Electronics Manufacturing Services (EMS) division and Precision Engineering Services (PES) division fell 19.6% to $356.1 million and 15.6% to $38.2 million respectively in Q1 FY10 as compared to Q1 FY09.

Gross profit decreased by 9.3 % to $10.4 million in Q1 FY10 compared to $11.5 million in Q1 FY09 mainly due to lower revenue. However, gross margin for Q1 FY10 was higher at 2.6% compared to 2.4% in Q1 FY09 due to a better product mix.

Overall, the group’s profit attributable to equity holders of the Company in Q1 FY10 decreased by 63.7% to $2 million as compared to $5.6 million in Q1 FY09.

Inventories and trade creditors balances were higher as at Oct 31, 2009 due to the higher manufacturing activities in October 2009.

The group’s focus on working capital management resulted in lower bank borrowings as at Oct 31, 2009.

Basic earnings per share in Q1 FY10 decreased to 0.38 cents from 1.05 cents in Q1 FY09 in line with the lower profit.