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Global Invacom Q3 profit doubles to US$228,000
GLOBAL Invacom, a global provider of satellite communications equipment which is on the Singapore Exchange watch-list, saw its third-quarter net profit about doubled to US$228,000 from US$109,000 a year ago.
This was mainly due to the introduction of new and improved products, and stronger performances in America, Europe and its rest of the world markets, partially offset by reductions in Asia.
Earnings per share stood at 0.08 US cent for the quarter, doubling from 0.04 US cent a year ago.
No dividend was declared for the quarter, the same as last year.
Revenue for the quarter ended Sept 30 rose 6.4 per cent to US$32.5 million from US$30.5 million a year ago, on the introduction of new and improved products to customers. The group added this reflects the overall "buoyancy and demand" in the market globally.
On its outlook, the group added it continues to see "strong" market traction for its products in both the direct-to-home (DTH) and data over satellite (DOS) markets.
This is reflected by positive market reception of new products such as Slimline LNB for the United States DTH customer base – which is a result of continued investment in research and development.
Through its recent acquisitions, the group said it is also uniquely placed in the industry to offer integrated, fixed and tracking, antenna and electronics solutions for customers serving both the DTH and DOS markets.
In June, the group said it acquired acquired the assets and intellectual property of Apexsat group for 250,000 euros (S$385,000). It also bought Skyware Technologies in the third quarter of fiscal 2018, which it said has "significantly improved" the group’s positioning.
Global Invacom were trading flat at S$0.140 on Thursday as at 11.54am, after its results were announced. The group was placed on the Singapore watch list in June 2018 for not meeting minimum trading price criteria.