SINGAPORE (Dec 13): Datapulse Technology, which is diversifying into haircare manufacturing, sunk into losses of $1.3 million for the 1Q18 ended October from earnings of $6.2 million a year ago.
See: Datapulse Technology to diversify into haircare and cosmetics manufacturing
In 1Q18, revenue from continuing operations fell 31.2% to $3.9 million due to the continued shrinking demand for media storage products such as CDs and DVDs and related services during the quarter.
In 2016, the group entered into a share sale and purchase agreement to dispose of its entire shareholding in One Global Inc, a wholly-owned subsidiary in Taiwan.
Other income from continuing operations rose 5.4% to $117,000.
However, total operating expenses rose 4.1% to $5.3 million after factoring an impairment loss on property, plant and equipment of $1.4 million.
Excluding the loss, the group would have achieved a profit of $0.02 million.
Shares in Datapulse Tech closed at 33 cents on Wednesday.
