Addvalue Technologies narrows Q1 loss to US$220,000

Singapore

NET loss for Addvalue Technologies narrowed to about US$220,000 in the fiscal first quarter ended June 30 from a net loss of US$862,000 a year ago, the company announced in a Singapore Exchange (SGX) filing on Saturday.

Revenue for the communications technology products developer shrank 9.5 per cent to US$1.02 million from US$1.13 million in the corresponding period of the previous year. Addvalue attributed the decrease mainly to the delivery of some satellite communication products by the group being postponed as a result of production delays.