IPS Securex

IPS Securex posts wider $0.3 mil loss on revenue decline, higher expenses

SINGAPORE (May 8): Security solutions provider IPS Securex reported 3Q ended March loss widened to $0.3 million from $0.2 million a year ago on lower revenue and higher expenses.

Revenue for 3Q fell 12.9% to $2 million compared to $2.2 million a year ago as revenue contributions from both segments declined.

This came largely due to a lower demand for security products and integrated security solutions from the Security Solutions business, as well as a delay in the commencement of a maintenance contract in the case of the Maintenance & Leasing business.

IPS Securex slips into the red in 2Q on lower other income and higher admin expenses

SINGAPORE (Feb 1): IPS Securex, the provider of integrated security solutions, reversed into 2Q losses of nearly $16,000 from a profit of $0.48 million a year ago due to lower other income and higher administrative expenses.

1H19 also swung into the red with losses of $0.32 million compared to earnings of $0.26 million in 1H18.

IPS Securex reports narrowing of 3Q losses to $0.2 mil

SINGAPORE (May 8): IPS Securex has posted a narrowing of 3Q losses to $0.2 million, which is half of its 3Q17 loss of $0.4 million a year ago due to lower expenses and a tax write-back.

Revenue for the quarter fell 4.4% to $2.3 million from $2.4 million previously due to reduced contributions from the security solutions business, offset in part by higher revenue from the maintenance and leasing business.

IPS Securex 2Q earnings drop 60.6% to $0.53 mil

SINGAPORE (Feb 9): IPS Securex announced that its 2Q18 earnings dropped 60.6% to $0.53 million, compared to $1.34 million in 2Q17.

Revenue was 51.6% lower at $2.63 million from $5.44 million last year, mainly attributed to a decrease in revenue from the group’s security solutions business. But partially offset by an increase in revenue from the group’s maintenance and leasing business.

Cost of sales also dropped 52% to $1.29 million from $2.68 million a year ago, due to the net decrease in direct material costs incurred, in line with the decrease in revenue.

IPS Securex’s 1Q net loss halves on higher revenue

SINGAPORE (Nov 7): IPS Securex, the provider of security products and integrated security solutions, saw 1Q net loss narrowed by half to $0.22 million from $0.45 million a year ago.

Group revenue rose 36.5% to $2.3 million from $1.7 million. Revenue for the Group’s Security Solutions Business grew 94.3% $0.79 million. Revenue from the Maintenance and Leasing Business increased by 18.4% to $1.5 million.

On the back of the increase in group revenue, gross profit increased by 15.7% to nearly $1 million.

Project delays, $3 mil doubtful debt allowance to hamper IPS Securex’s prospects going forward: RHB

SINGAPORE (Sept 11): RHB Research has downgraded its call on security solutions provider IPX Securex Holdings to “neutral” from “buy”, while lowering its target price on the counter to 9 cents from 34 cents previously.

This comes after the group announced it had made an allowance of doubtful debt amounting to about $3 million, resulting from the sale of PepperBall and its related equipment to one of its regional customers who has since defaulted on its subsequent payment after making the initial payment of $0.7 million in Aug 2016.

Stocks to watch: Loyz, Hatten, Keppel, IPS Securex, United Global, Creative Tech

SINGAPORE (Aug 17): Here are some stocks that could move the market this Thursday morning:

Loyz Energy, the oil and gas exploration and production company, has swung back into the black in FY17, reporting earnings of US$12.9 million ($17.6 million) for FY17 due to a US$19.4 million gain in other income. FY17 revenue declined 16.5% to US$9.0 million. Shares in Loyz Energy last traded at 1.9 cents.

See: Loyz Energy returns to profitability in FY17 on one-off gain

IPS Securex swings into FY17 net loss of $2.5 mil

SINGAPORE (Aug 17): Security solutions provider IPS Securex swung to net losses of $2.8 million and $2.5 million in 4Q17 and FY17 respectively.

The group had reported net profits of $2.1 million and $2.2 million in 4Q16 and FY16 respectively.

Group revenue decreased 53.2% to $2.1 million in 4Q from $4.4 million. For FY17, revenue fell 9.3% to $11.6 million.

IPS Securex secures maintenance contract worth $10.4 million

SINGAPORE (June 13): IPS Securex says it has won a $10.4 million contract with “a government agency in Southeast Asia” to provide maintenance support and equipment replacement services for its integrated security solutions.

IPS Securex is a wholly-owned subsidiary of IPS Securex Holdings, the provider of security products and integrated security solutions.

IPS Securex 3Q earnings drop by nearly half to $0.4 mil

SINGAPORE (May 15): IPS Securex, the provider of security products and integrated security solutions, announced 3Q earnings dropped by nearly half to $0.4 million from a year ago on admin expenses and higher cost of sales.

Revenue rose 72.3% to $2.4 million mainly due to revenue contribution from the acquisitions of Yatai Security & Communications and Avac Systems the results of which were incorporated into the group with effect from April 1 2016.

Be informed of the stories that matter