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Broadway Industrial’s 2Q earnings more than treble on lower expenses

PC Lee
PC Lee5/2/2018 05:19 PM GMT+08  • 1 min read
Broadway Industrial’s 2Q earnings more than treble on lower expenses
SINGAPORE (May 2): Broadway Industrial Group, the manufacturer of actuator arms for hard disk drives, saw 2Q earnings more than trebled to $588,000 from $160,000 a year ago on higher sales and lower expenses.
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SINGAPORE (May 2): Broadway Industrial Group, the manufacturer of actuator arms for hard disk drives, saw 2Q earnings more than trebled to $588,000 from $160,000 a year ago on higher sales and lower expenses.

Revenue rose 2.2% to $91.4 million from $89.4 million mainly due to higher demand from customers. Distribution expenses decreased by 22.3% to $0.8 million while administration, sales and marketing expenses decreased to $3.3 million from $4.1 million a year ago.

Broadway says the outlook of a 5% total addressable market reduction in demand for HDD for all of 2018 remains unchanged.

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