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InnoTek 4Q earnings fall 42% to $2.8 mil on unrealised exchanges losses & higher tax expense

Michelle Zhu
Michelle Zhu2/28/2018 06:41 PM GMT+08  • 2 min read
InnoTek 4Q earnings fall 42% to $2.8 mil on unrealised exchanges losses & higher tax expense
SINGAPORE (Feb 28): Precision metal components manufacturer InnoTek announced earnings of $2.8 million for 4Q17, down 42% from $4.8 million in the same period a year ago on unrealised exchange losses and higher tax expense.
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SINGAPORE (Feb 28): Precision metal components manufacturer InnoTek announced earnings of $2.8 million for 4Q17, down 42% from $4.8 million in the same period a year ago on unrealised exchange losses and higher tax expense.

Revenue for the quarter grew 1.3% to $56.1 million from $55.4 million previously due to higher sales booked from the Precision Machining segment, namely for heat sink, car display panel and TV Bezel programmes.

In particular, InnoTek highlights healthy growth seen in its TV segment as the higher-quality finish and general shift towards larger format High Definition TV panels continue to benefit the group.

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