| Latest Forum Topics / Sunningdale Tech |
 Post Reply
|
|
Something brewing
|
|
|
woowoo
Member |
19-Nov-2009 15:32
|
|
x 0
x 0 Alert Admin |
Oh... no wonder it cheong huh..... thankz alexmay...  |
| Useful To Me Not Useful To Me | |
|
alexmay
Veteran |
19-Nov-2009 15:13
|
|
x 0
x 0 Alert Admin |
Latest financial statement http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_CE4750865242E5364825766D0056BE1D/$file/STL_3Q09Results.pdf?openelement 10 A review of the performance of the group, to the extent necessary for a reasonable understanding of the group's business. The review must discuss any significant factors that affected the turnover, costs, and earnings of the group for the current financial period reported on, including (where applicable) seasonal or cyclical factors. It must also discuss any material factors that affected the cash flow, working capital, assets or liabilities of the group during the current financial period reported on A commentary at the date of the announcement of the competitive conditions of the industry in which the group operates and any known factors or events that may affect the group in the next reporting period and the next 12 months Where a forecast, or a prospect statement, has been previously disclosed to shareholders, any variance between it and the actual results CONSOLIDATED INCOME STATEMENT July – September 2009 ( “3Q09”) The Group ’ s revenue increased 11.6% from $95.5 million in 3Q08 to $106.6 million in 3Q09. All business segments grew except telecommunications. Compared to 2Q09, revenue i ncreased substantially by 15.5% or $14.3 mi llion, with all business segments growing. During the period, gross profit increased by 46.5% from $11.1 million in 3Q08 to $16.3 million in 3Q09. Gross margin for 3Q09 was 15.3% compared to 11.7% in 3Q08. This was due to better utilization because of increased production volumes, as well as the consolidation of plants, and the cost cutting measures that were put in place over the year. Marketing and distribution costs were reduced by 10.0% from $2.9 million to $2.6 million. This was due to natural attrition of personnel and cost control. Administrative expenses were 10.2% higher at $7.5 million compared to $6.8 million in 3Q08. Included in the $7.5 million was an additional $0.7 million for impairment allowance for doubtful debts on the receivable from Visteon Corporation which had filed for chapter 11 in 28 May 2009. The Group is currently in discussion with Visteon Corporation on the settlement of the pre-chapter 11 debts and it is possible that as more information become available, the impairment allowance may be adjusted. Without this allowance, administrative expenses would have been about the same. Interest expense rose in 3Q09 as compared to 2Q09 was due to hi gher interest rates charged. The decrease in other income was due to lower compensation/reimbursement from customers and suppliers and the increase in other expense was due to increase in foreign exchange loss in 3Q09, as compared to 3Q08. The Group recorded a net profit of $2.8 million for 3Q09 compared to a net profit of $2.0 million in 3Q08. This included a non-cash foreign exchange loss of $0.8 million (3Q08: $0.3 million) and the impairment allowance for doubtful debts. Excluding the non-cash foreign exchange loss and the impairment allowance for doubtful debts, the Group would have generated a net profit of $4.3 million versus a net profit of $2.3 million in 3Q08 on a comparable basis. CONSOLIDATED BALANCE SHEET The Group had fixed assets of $166.3 million as at 30 September 2009 compared to $176.7 million as at 31 December 2008. This included $20.1 million (9 months ended 30 September 2008: $19.5 mi llion) in depreciation charges incurred during the period. Trade and other receivables increased from $86.6 million as at 31 December 2008 to $89.0 million as at 30 September 2009 due to increased revenue in 3Q09. Trade and other payables (including accruals) decreased slightly from $64.1 million as at 31 December 2008 to $63.6 mi llion as at 30 September 2009. Overall bank borrowings (including bank overdraft) decreased from $88.2 million as at 31 December 2008 to $80.8 million as at 30 September 2009 due to repayment of some loans. The Group maintained a healthy cash balance of $61.5 million as at 30 September 2009 (31 December 2008: $41.9 million) resulting in net debt of about $19.3 million. CONSOLIDATED CASHFLOW STATEMENT July – September 2009 ( “3Q09”) Net cash generated from operating activities was $6.9 million for 3Q09, compared to net cash generated from operating activities of $4.2 million for 3Q08. Net cash used in investing activities was $2.0 million for 3Q09 compared to $7.0 million for 3Q08 due to lower capital expenditure in 3Q09. Net cash used in financing activities for 3Q09 was $3.4 million compared to net cash generated from financial activities of $1.0 million in 3Q08 as the Group repaid some loans. The global economy has shown signs of recovery. The group achieved good 3Q09 operati ng results, improved versus 2Q09 and 3Q08, despi te several external challenges like forex and impairment allowance for doubtful debts. We are optimistic but remain cautious for the rest of the year. In the Automotive segment, North American production data shows that the industry has stabilised. Although 3Q09 production output declined by 20.5% year on year, it was a 31.1% increase over 2Q09. Producti on volume has grown for 3 consecutive quarters. The group turned in a strong quarter for this segment. Sales grew by 13.6% year on year and 19.8% over 2Q09. It was hel ped by the “cash for clunkers” program in the US as well as the group ’s geographically diverse customer base built over the years. In the Consumer/IT segment, 3Q has al ways been seasonally strongest. Orders from our exi sting key customers were strong. W e expect the trend to continue through 4Q09. The 2009 growth trajectory over 2008 for Heal thcare business segment continues to remain on track. Orders from current customers remai n strong and production capacity will be fully loaded through 4Q09. The group conti nues to focus on expanding its customer base. Our tooling revenue continues to be well supported and sustainable across all tooling plants. Our YTD trend of tooling orders, which serves as a leading indicator, continues to be strong across all business segments. The new tooling facility in Southern China is also fully operational. Thus, our overall tooling capacity for the group has been expanded and contri butes to making us more competitive in this region. Management continues to stay focused on driving operational excellence, build capabilities and be selective on incremental investments to address existing and targeted new global accounts. |
| Useful To Me Not Useful To Me | |
|
|
|
|
woowoo
Member |
19-Nov-2009 12:46
|
|
x 0
x 0 Alert Admin |
Something brewing in this counter, anybody gots news............... |
| Useful To Me Not Useful To Me | |