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Serial System swings back into profitability in 1Q with earnings of $3.8 mil

Michelle Zhu
Michelle Zhu4/28/2017 04:36 PM GMT+08  • 3 min read
Serial System swings back into profitability in 1Q with earnings of $3.8 mil
SINGAPORE (April 28): Serial System has announced earnings of US$2.7 million ($3.8 million) for the first quarter ended March 31, reversing from its loss of US$6.6 million in the same period a year ago as losses from associate companies shrank while allow
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SINGAPORE (April 28): Serial System has announced earnings of US$2.7 million ($3.8 million) for the first quarter ended March 31, reversing from its loss of US$6.6 million in the same period a year ago as losses from associate companies shrank while allowances for obsolete inventory fell.

This brings the electronic components distributor’s fully diluted earnings per share (EPS) to 30 US cents for 1Q, as compared to a loss per share of 73 US cent in the previous year.

The group saw a significant improvement to its bottom line despite no significant increase in sales, which amounted to US$332.9 million, almost similar to the US$332.8 million reported in 1Q16.

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