Venture Corp posted a revenue of $639.5 million for the first quarter of 2010. The group said the decline was mainly due to expected downsizing of the lower value-added portion of its Printing and Imaging business.

Profit after tax and minority interests (PATMI) for the quarter ended 31 March 2010 was $39.5 million, 42.3% higher than the $27.7 million recorded in the corresponding quarter of the prior year.

Included in 1Q 2009’s PATMI were a foreign exchange gain of $9.1 million and a charge related to fair value loss on its derivative financial instrument of $12.6 million. The derivative financial instrument matured in December 2009.

Earnings per share was 14.4 cents for the three months ended 31 March 2010.

For the first quarter of 2010, cash generated from operations amounted to $32.8 million.

As at 31 March 2010, cash and cash equivalent balances stood at $492.7 million. Excluding bank loans of $123.0 million, the group remained net cash positive at $369.7 million.

As at 31 March 2010, total shareholders’ equity of the group amounted to $1.9 billion.

Trade receivables decreased to $413.3 million in the first quarter of 2010 from $588.4 million in the previous quarter. Trade Payables declined to $397.3 million in the reporting quarter from $509.1 million in the fourth quarter of 2009. Inventories stood at $534.6 million as at the end of 31 March 2010.

The Net Asset Value per share of the group was $6.90 at the end of the financial period reported on.