Datapulse Technology sinks into the red in Q2 FY16

DIGITAL storage products and services provider Datapulse Technology sank into the red with a net loss of S$580,000 for the three months ended Jan 31, 2016, versus a net profit of S$71,000 a year earlier.

Revenue dropped 21.5 per cent year on year to S$4.78 million, owing to weak demand for media storage products and services and cards products and services.

Loss per share came to 0.26 Singapore cent, compared to earnings per share of 0.04 cent a year ago.

For the six month period, net profit roughly doubled from S$1.62 million to S$3.29 million, while revenue edged up 11 per cent to S$17.34 million.

"The outlook for the Singapore manufacturing sector remained weak, on the back of the global economic uncertainties and ongoing slowdown in China," Datapulse said. "Operating environment in the media storage industry continues to be challenging due to weak market demand for media storage products and services."

It added that the group will continue to try to boost its revenue base by expanding its list of customers and delivering more value-added services. In addition, it will keep a lid on operating costs by enhancing yield and production efficiencies.