Mainboard-listed Addvalue Technologies, the manufacturer of mobile satellite terminals, posted a profit after tax of $2.0 million in the three months ended 30 September 2010 (2QFY2011) compared to a net loss of $2.8 million in 2QFY2010.

Against the robust sales of a wider range of Inmarsat-centric land and maritime products, the group turned in $6.1 million in revenue for 2QFY2011 compared to $0.5 million for 2QFY2010.

Gross profit margin also improved significantly to 54.3% in 2QFY2011 from 53.4% in 2QFY2010 due principally to sales with better mix of higher yielding products.

The group improved its cash position from $0.3 million as at 31 March 2010 to $0.9 million as at 30 September 2010. Its working capital position which reversed from a negative $2.8 million as at 31 March 2010 to a positive $2.7 million as at 30 September 2010; and its gearing fell from 95.2% as at 31 March to 37.8% as at September.