IPCO’s 1Q earnings fall 98% to $0.34 mil

SINGAPORE (Sept 13): IPCO International saw 1Q earnings fall 97.6% to $34,000, or 0.001 cent per share) from $1.4 million a year ago on lower sales.

Total revenue fell 32% to $9.98 million. ESA Electronics, which operates in the semi-conductor industry, recorded a 43.6% decrease in turnover to $3.9 million while sales from installation, connection and delivery of natural gas from Excellent Empire fell 7.6% to $5.9 million.

Meanwhile, other revenue decreased 96.4% to $43,000, compared to $1.2 million a year ago as other income shrunk 96.4% to $43,000 but fair value loss from financial assets narrowed 96% to $64,000 from $1.6 million.