(SINGAPORE, November 10, 2009) - SGX mainboard-listed Ellipsiz Ltd and its subsidiaries (the "Group"), a probe card and distribution & services solutions provider to the semiconductor and electronics manufacturing industries, today reported a lower net loss after tax and minority interests of $0.8 million on revenue of $32.1 million for its first quarter ended 30 September 2009 (1QFY10).
Excluding non-recurring insurance claim income of $0.3 million, net loss after tax and minority interests for the quarter was $1.1 million. Though the net loss was flat year-onyear, it was an improvement over net loss of $1.9 million for 4QFY09. 1QFY10 result (excluding exceptional items) was also its third consecutive quarter of improvement since 2QFY09 when net loss was $3.6 million. The improvement came amid the Group’s cost alignment and rationalisation efforts that led to leaner manufacturing expenses, better gross profit margin and lower operating expenses.
Revenue for 1QFY10 was a decrease of 31% compared to corresponding period of last financial year as pricing pressure, competition and reduction in capital spending by customers continued to impact our businesses. Revenue, however, was marginally lower when compared to 4QFY09.
Melvin Chan, CEO of Ellipsiz Ltd, said: "While market conditions have improved for most part of the semiconductor supply chain, the Group remains cautious of its business prospects. We would, thus, continue with prudent cost management and maintenance of a healthy balance sheet position, while furthering our efforts with the exploration of opportunities and new avenues to strengthen our business engines."
Investor Relations contact:
Howe Weng Khiong
Investor Relations, Ellipsiz
Office: 65-6311-8500, Email: wkhowe@ellipsiz.com
About Ellipsiz Ltd
Ellipsiz is a leading probe card company and semiconductor service provider serving the semiconductor and electronics industries. Our probe card division, SV Probe is the 4th largest probe card company in the world (VLSI, 2009). We provide comprehensive range of semiconductor equipment, outsourced services and consumables products.
Ellipsiz currently has 9 production facilities worldwide and a global network of 24 sales and customer support centers. We are headquartered in Singapore and have operations in Australia, China, France, India, Japan, Korea, Malaysia, New Zealand, Taiwan ROC, Thailand, USA and Vietnam.
Ellipsiz is listed on the main board of the Singapore Exchange. We employ more than 1,300 people worldwide and achieved revenue of S$150 million for the financial year ended 30 June 2009. Please visit us on the web at www.ellipsiz.com.
