Beyonics says the group recorded a profit attributable to equity holders of $0.8 million in Q4 FY2009 after incurring a loss of $2.6 million in Q3 FY2009. Revenue in Q4 FY2009 was 17.2% lower than that in Q4 FY2008 but 13.6% higher than that in Q3 FY2009.
Group revenue for the financial year ended 31 July 2009 (FY2009) increased by 11.3% to $1.57 billion compared to the previous financial year (FY2008) of $1.41 billion mainly due to a full year’s revenue contribution of the Seagate PCBA business compared to only 7 months’ contribution in FY2008.
Revenue from the Electronic Manufacturing Services (EMS) division increased by 16.7% to $1.44 billion in FY2009 from FY2008 mainly due to the Seagate PCBA business.
Revenue from the Precision Engineering Services (PES) division decreased by 26.1% to $131.3 million in FY2009 from FY2008 mainly due to the sharp economic downturn which resulted in a significant contraction in the hard disk drive and automotive industries.
Despite higher group revenue, gross profit for FY2009 decreased by 38.4% to $32.7 million from FY2008 mainly due to lower revenue and lower capacity utilisation from the PES division.
Group profit attributable to equity holders of the company for FY2009 decreased by 75.5% to$4.2 million. Accordingly, basic earnings per share (EPS) for FY2009 decreased to 0.78 cents from 3.17 cents in FY2008.
Inventories, trade debtors and trade creditors balances were lower as at 31 July 2009 due to the lower manufacturing activities in the last quarter of FY2009.
The group’s continuous focus on working capital management resulted in a higher cash and bank balances and lower bank borrowings as at July 31, 2009.
Net assets value per share as at July 31, 2009, increased to 55.86 cents, compared with 53.87 cents as at 31 July 2008.