CGS-CIMB Research analyst William Tng has maintained his “add” call on ISDN Holdings even after the company’s revenue and net profit for the 1QFY2022 ended March both stood 10% below his expectations.
On June 10, ISDN reported revenue of $94.7 million for the quarter, down 3.8% y-o-y. The quarter’s earnings, however, increased by 5.8% y-o-y to $6.4 million.
The revenue miss was attributable to the Covid-19 lockdown measures in China. This was offset by better revenue in the other markets ISDN operates in.