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TPV Technology swings into the black in 3Q on higher efficiency, lower expenses

PC Lee
PC Lee11/17/2016 07:41 PM GMT+08  • 2 min read
TPV Technology swings into the black in 3Q on higher efficiency, lower expenses
SINGAPORE (Nov 17): TPV Technology, the manufacturer of TVs and monitors, swung back to profitability in 3Q16 with earnings of US$18.6 million ($26.3 million) from losses of US$26.3 million a year ago, thanks to a more efficient operating structure and an
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SINGAPORE (Nov 17): TPV Technology, the manufacturer of TVs and monitors, swung back to profitability in 3Q16 with earnings of US$18.6 million ($26.3 million) from losses of US$26.3 million a year ago, thanks to a more efficient operating structure and an 18% reduction in operating expenses.

For the 9M ended Sept, TPV Tech posted earnings of US$21.3 million compared to losses of US$90 million a year ago.

Revenue for the three months to Sept came in at US$2.47 million compared to US$2.8 million a year ago. Selling and distribution, administrative and R&D expenses fell more than threefold to US$174,733 from US$574,816.

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