SINGAPORE (Nov 11): Global Invacom Group, the satellite communications provider, reported its second consecutive quarter of profitability with US$0.7 million ($1 million) in earnings as compared to losses of US$2.7 million in the previous year due to lower expenses.
As such, earnings per share on a fully diluted basis has been brought to 0.26 US cent, compared to a loss per share of 1.04 US cents in 3QFY15.
Revenue decreased marginally by 0.4% in 3Q16 to US$32.1 million from US$32.3 million in 3Q15, mainly attributable to a US$2.4 million reduction in the electronics manufacturing services and lower year-on-year sales orders in Asia.
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