Mainboard-listed Memtech International, the leading integrated component solutions provider for the mobile phone, IT equipment and automotive industries, today reported a strong set of financial results for the three months ended September 30, 2010 (3Q2010).

Profit attributable to shareholders doubled from US$1.5 million in the previous corresponding quarter (3Q2009) to US$3.0 million ($3.9 million) in 3Q2010.

Group revenue rose 9.6% from US$30.0 million in 3Q2009 to US$32.8 million in 3Q2010. This was mainly attributed to the continued growth of the major Chinese mobile phone manufacturers who are the group’s key customers, and orders to supply components for Amazon’s eBook, Kindle.

Gross profit jumped 22.9% from US$5.7 million in 3Q2009 to US$7.0 million in 3Q2010, while gross profit margin improved 2.3 percentage points from 19.1% in 3Q2009 to 21.4% in the quarter under review. This was due to higher sales and better control of production cost.

The group’s financial position remained healthy as at September 30, 2010, with cash and cash equivalents of US$38.8 million.