9/6/2013 – Serial System, a distributor of electronic components listed in Singapore and Taiwan, says its entry into the Japan market will boost H2 FY13. But it will be impacted by rising costs, inflation and stronger Asian currencies. On a macro level, it could feel the pain from China’s tepid economic growth, a recovery in the United States and continued difficulties faced by the EU countries. The company recently announced earnings for Q1 FY13: Revenue: +19% YoY to US$171.6 mln Gross profit: +15% to US$15.6 mln Gross margin: 9.1% vs 9.4% Profit: +10% to US$1.6 mln Cash flow from operations: US$6.6 mln vs US$16.9 mln The increase in sales was led by all markets segments, with growth of major product lines and additions of new customers boosting Greater China sales 11%, South Korea 12%, and Taiwan 20%. ![]() As we are helping to promote those listings and sellers, we usually do not include additional photo credits besides a current seller link. Please contact us if there is some issue with listing content or photos, which we will be happy to revise or remove accordingly. Note: Many photographs presented in this blog represent eBay listings, and as such are the property of the original photographers. Let the buyer beware this blog also contains affiliate, sponsored-paid links, and I take no responsibility for any purchases made through such links. Suhr bpsc manuals download. Banner-header image: 'Fracturecaster' by Phil Sylvester at Portland, OREGON. Revenue from Southeast Asia and India jumped 55%, mainly due to the contribution from newer product lines. Ac3d keygen crack serial generator. NRA Capital Research maintained its OVERWEIGHT rating and a target price of S$0.17 as Serial System is still performing well, with a decent dividend payout. The analyst has also maintained its profit forecast for FY13-FY15. CIMB Research has a BUY call with a target price of S$0.15 as it believes the FY13 dividend yield remains attractive at 5.3%. Investor Central. Auslogics Boostspeed 8 Key. Auslogics Boostspeed 8 now available on this web page with all features and function complete free with Keygen Serial key. This application is a progressive software solution designed to enhance the operating system, solve errors and thus recover the overall performance of the computer. Very updated and modest software, you can easily use without any expertise. Trend in Net Income Trend in CFO Trend in Capex Trend in major working capital accounts Overall assessment of the financial strength of the company CFO = Cash. (Serial No.61) Journal of Modern. Answer key to integrated audit practice case offers a clear cut as well as straightforward guidelines to adhere to while.
Despite revenue growth of 19% in Q1 and 7% in FY12 its bottom line has not jumped. The fall in Q1 profit came mainly from the continued increase in operating expenses that stemmed from higher staff and rental costs in China. While expenses increased 9% YoY, the net margin fell from 1% to 0.9%. The same was the case in FY12, where expenses grew 10.8%, squeezing the net margin down to 1.2%. Therefore, what is it doing to cut costs? This also leads to our next question: 2. Is the net margin of 1% a concern for the company? Serial System highlighted in its Q1 presentation that its net margin has been hovering around 1% since FY08, with the highest being 2.2% in FY10. But this is after Serial's negative net margin of 1% to 2% from 2004 to 2006 3. Will it soon sell its stake in Bull Will? The Group’s share of loss in its associated companies was about US$0.15 mln in Q1, compared to US$0.22 mln in Q1 FY12. The losses in Q1 were incurred by the group’s 40.8% equity interests in Bull Will Company, listed on the Taiwan Stock Exchange, due to lower sales achieved and higher fixed expenses incurred by its manufacturing plants and operations. According to the annual reports, Serial has invested S$8.7 mln in Bull Will since FY07 but it made a total share of loss of S$1.6 mln since then. However, this excludes dilution gain of S$0.2 mln in FY08 and S$0.3 mln in FY10 In addition, Reuters highlight that Bull Will, since 2007, has burnt cash to the tune of NT$199 or approximately S$8 mln to run its operations. Therefore, it makes us wonder how long before Serial sells this underperforming stake. Will gross margin continue to decline due to competition in Korea? The Group’s gross profit margin declined from 9.4% in Q1 FY12 to 9.1% in Q1 FY13 as it sold low margin products at its Singapore subsidiary. It was also lower due to stiff competition at its Korean subsidiary. This is also reflected on its balance sheet. Trade and other receivables increased by US$12.2 mln mainly due to higher sales in Singapore, Taiwan and Korea, and longer average credit periods granted to customers.
0 Comments
Leave a Reply. |