KUALA LUMPUR (Aug 18): Automated test equipment solutions provider Elsoft Research Bhd posted a net profit of RM7.1 million for the second financial quarter ended June 30, 2017 (2QFY17), down 32% from RM10.4 million a year ago on lower revenue, a share of losses in associated companies and unfavourable foreign exchange.

Quarterly revenue fell 19% to RM14.9 million from RM18.4 million in 2QFY16, no thanks to lower demand from general lighting and smart devices industry.

The group declared a single-tier interim dividend of three sen per share, with Sept 13 as the ex-date and Sept 29 as payment date.

For the first half of FY17 (1HFY17), net profit climbed 10% to RM13.1 million from RM11.9 million in 1HFY15, while revenue increased 5% to RM30.1 million from RM28.6 million a year earlier mainly due to greater demand from automotive industry but was partially offset by lower demand from smart devices industry.

In its filing with Bursa Malaysia, Elsoft said it is optimistic about the group's prospects for FY17.

Elsoft closed down four sen or 1.43% to RM2.76, with 138,200 shares traded for a market capitalisation of RM759.15 million. Year to date, the stock has gained about 97%.

Elsoft expands business via new segments and products [Goreng Goreng]

Ooi Kak Hwa: The share market will be extremely bullish!

Goreng Goreng Goreng.....