Hi-P International (H17.SG) gaps up at opening, last +11.8% at $0.57 on above-average volume, as investors welcome contract electronics manufacturer’s improved 2Q10 guidance, according to Dow Jones.

“After at least two consecutive quarters of earnings disappointment, Hi-P may be seeing light at the end of the tunnel,” says a trader at a local brokerage. On back of increased demand from customers, better capacity utilisation and cost controls, company expects revenue to be comparable to 2Q09’s $177.6 million vs May guidance for lower revenue; still expects profit to be lower than 2Q09’s $16 million but better than initial forecast to break even.

2Q10 results, outlook for rest of FY10 will be closely watched when released early August.

Resistance tipped at $0.595, lower end of breakdown gap formed May 11.