Starburst Holdings

Starburst narrows 1Q losses to 1.2 mil on lower expenses

SINGAPORE (May 3): Starburst Holdings, a Singapore-based engineering group specialising in the design and engineering of firearms-training facilities, announced that its 1Q19 losses have narrowed by 8.3% to $1.2 million, compared to a loss of $1.3 million in 1Q18.

Revenue saw a slight increase of 2.3% to $1.62 million from $1.58 million a year ago, mainly contributed by maintenance works.

Starburst sinks to 1Q losses of $1.3 mil on lower revenue

SINGAPORE (May 10): Firearms training facilities provider Starburst Holdings sank to losses of $1.3 million for the 1Q ended March, from earnings of $0.4 million a year ago.

1Q18 revenue fell 62.4% to $1.6 million, from $4.2 million a year ago. The revenue in 1Q18 was mainly contributed by maintenance works.

Starburst swings back into the black with FY17 earnings of $0.1 mil

SINGAPORE (Mar 1): Starburst Holdings, the firearms-training facilities provider, swung back into profitability in FY17 with earnings of $0.1 million compared to a loss of $11.7 million in FY16.

This was due to improved margins and a significant decline in project and production costs.

Revenue declined 13.3% to $15.9 million in FY17 from $18.3 million in FY16, due to the lower contributions from projects undertaken in the full year under review.

Starburst swings back to profitability in 9M with earnings of $1.3 mil

SINGAPORE (Nov 7): Starburst Holdings has swung back to profitability, posting 9M earnings of $1.3 million in 9M17 compared to a loss of $7.8 million in 9M16.

This came on the back of a 22.6% fall in revenue to $14.1 million from $18.2 million a year ago.

Revenue was mainly contributed by additional works undertaken for a firearm shooting range project in the Middle East, two small indoor shooting range projects, a security detention facility project and a supply and installation of entry training equipment project in Southeast Asia.

Starburst bags $6.6 mil contract in Middle East

Starburst Holdings

SINGAPORE (Oct 26): Starburst Holdings announced Thursday that wholly-owned subsidiary Starburst Engineering has been awarded a $6.6 million contract in the Middle East.

Under the contract, Starburst Engineering will design, supply and install ballistic protection works to a firearm training facility.

The project is expected to commence in June 2018, and be completed in September 2019.

Starburst says the contract is not expected to have any material impact on its net tangible assets and earnings per share for the financial year ending Dec 31, 2017.

Starburst gunning for bigger contracts

SINGAPORE (Sept 15): Starburst Holdings was listed in July 2014 at 31 cents. Within a month, its shares had surged to as high as 72 cents.

But a dry spell in new major contracts and cost overruns in a project have hurt its earnings.

The company has been loss-making for two consecutive years and its shares fell below 20 cents in January.

Now, Starburst seems to be slowly turning around. For the quarter ended June 30, revenue declined 27.3% y-o-y to $5.8 million.

But it reported earnings of $212,000, reversing losses of $1.7 million in the year-earlier quarter.

Starburst swings out of the red in HY2017 on lower project, production costs

SINGAPORE (Aug 11): Firearms-training facilities engineering group Starburst Holdings reversed out of the red with earnings of $0.6 million in the 1H17 ended June, from a net loss of $2.1 million a year ago.

This came on the back of a vastly improved gross profit margin, which surged 37.7 percentage points to 45.8% in 1H17 due to better management of project and production costs.

Project and production costs fell 59.8% to $5.4 million in HY2017, in line with a decrease in revenue, and lower sub-contractor and overhead costs.

This defence stock is bursting with star potential

SINGAPORE (June 14): CIMB Securities likes Starburst Holdings, an engineering group specialising in the design and engineering of defence training facilities, as a “niche defence company with high entry barriers” – and foresees a sustained turnaround for the Catalist-listed company post its 1Q17 results.

In a non-rated report on Tuesday, analysts Ngoh Yi Sin and William Tng note the improvement shown in Starburst's 1Q17 core net profit and gross margin as well as its low net gearing ratio of 5.3% as at end-1Q.

Starburst turns in profitable 1Q with $0.4 mil in earnings

SINGAPORE (May 12): Starburst Holdings, the design and engineer of firearms-training facilities, posted 1Q17 earnings of $0.4 million compared to a net loss of $0.4 million a year ago.

Revenue decreased 37.8% to $4.2 million as the group’s projects were mostly in their final installation phases which translated to lower revenue based on the percentage-of-completion method.

OCBC ceases coverage on Starburst

SINGAPORE (March 9): OCBC Investment Research is ceasing coverage on firearms-training facilities provider Starburst Holdings due to lack of market liquidity.

This comes after Starburst saw its net loss widen seven-fold to $11.7 million for the full year ended Dec 31. This was mainly due to delays at its Marina One architectural steel project.

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