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Hour Glass posts 6% rise in 3Q earnings to $14.2 mil on lower costs & expenses

Michelle Zhu
Michelle Zhu2/9/2018 06:03 PM GMT+08  • 1 min read
Hour Glass posts 6% rise in 3Q earnings to $14.2 mil on lower costs & expenses
SINGAPORE (Feb 9): The Hour Glass reported 3Q18 earnings of $14.2 million, up 6% from $13.4 million a year ago on reduced costs and expenses.
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SINGAPORE (Feb 9): The Hour Glass reported 3Q18 earnings of $14.2 million, up 6% from $13.4 million a year ago on reduced costs and expenses.

Revenue for the quarter fell 7% to $182.9 million compared to $196 million in 3QFY17, attributable to a contraction in supply from the group’s principal partners.

Gross margin in 3Q18 was higher at 24.6% compared to 22.3% a year ago.

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