Global Invacom expects wider US$3.3m H1 loss amid semiconductor shortage

SATELLITE communications equipment provider Global Invacom expects to post a US$3.3 million net loss for H1 ended June, wider than the year-ago US$1.2 million net loss.

Revenue in H1 is expected to be US$37.2 million, down from US$40.4 million in the same period last year, the company said in a profit guidance on Tuesday (Aug 2) before the market open.

The global semiconductor shortage continues to impact Global Invacom’s ability to satisfy existing orders and generate revenue, it said. The company is also hit by material availability, price increases and labour challenges.

“The group continues to assess its cost base to streamline certain core functions and continues to reduce administrative costs, whilst not impacting its offering to customers,” it added.

Global Invacom expects to post its H1 results no later than Aug 14. Its shares were trading at S$0.08 on Tuesday as of 9.20am, down 5.9 per cent. (*see amendment note)

*Amendment note: A previous version of this article referenced the incorrect share price for Global Invacom.