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Memtech back in the black with 2Q earnings of US$4.9 mil on higher revenue

Michelle Zhu
Michelle Zhu8/10/2017 06:38 PM GMT+08  • 2 min read
Memtech back in the black with 2Q earnings of US$4.9 mil on higher revenue
SINGAPORE (Aug 10): Memtech International, the global components solution provider, reported earnings of US$4.9 million ($6.7 million) for 2Q17, reversing from the loss of US$1.4 million posted in the same period a year ago.
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SINGAPORE (Aug 10): Memtech International, the global components solution provider, reported earnings of US$4.9 million ($6.7 million) for 2Q17, reversing from the loss of US$1.4 million posted in the same period a year ago.

In a Thursday filing, Memtech says its improved performance in the current quarter was largely attributable to the successful execution of scheduled orders from major customers.

Revenue over the quarter grew 20.1% to US$37.8 million from US$31.4 million on the back of an increase in sales in the consumer electronics segment, whose contribution grew to 37% of total revenue from 29.7% a year ago.

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