A-Sonic, units likely to post losses for Q1

MAINBOARD-LISTED logistics and aerospace player A-Sonic Aerospace said in an early-morning announcement yesterday that the company and its subsidiaries are expected to post losses for the first quarter ended March 31, 2014. It did not elaborate.

For the fourth quarter ended Dec 31, 2013, A-Sonic posted net profit of US$212,000 - reversing a US$1.96 million net loss in the same year-ago period. Turnover slipped 19.5 per cent to US$61.85 million. A-Sonic posted earnings per share of 0.03 US cent in Q4 2013 from a loss per share of 0.27 US cent in Q4 2012.

For the year ended Dec 31, 2013, the group posted net earnings of US$2.53 million, against a net loss of US$2.86 million in the previous year. Revenue dipped 1.5 per cent to US$272.32 million. Full-year 2013 earnings per share amounted to 0.35 US cent, against a loss per share of 0.40 US cent for FY 2012.