Global Invacom Group, the provider of satellite communications equipment, reported a net loss of US$1.1 million ($1.5 million) for the FY15 compared to a net profit of US$5.1 million in FY14.
Revenue for the 12 months to Dec declined 3.7% to US$129.1 million from US$134.1 million the previous year.
This was mainly due to delayed sales in first-half sales to main customers in America, Europe and Asia who either destocked or altered their procurement procedures, with one undertaking a significant technology change which usually occurs about once every eight to 10 years.
“While all orders restarted in 2H FY2015, effects from the technology change will persist into 1H FY2016,” says Global Invacom in its filing.
Gross profit margin also fell to 19.3% from 23.7%.
Still, the group recognised four months’ revenue of US$17.5 million, from newly acquired Skyware Global.
Tony Taylor, Executive Chairman of Global Invacom, says, “Amidst economic uncertainties, we remain optimistic about the Sat Comms industry given rising demand for digital TV services and communications infrastructure.”
Global Invacom closed 1.46% higher at 14 cents.
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Revenue for the 12 months to Dec declined 3.7% to US$129.1 million from US$134.1 million the previous year.
This was mainly due to delayed sales in first-half sales to main customers in America, Europe and Asia who either destocked or altered their procurement procedures, with one undertaking a significant technology change which usually occurs about once every eight to 10 years.
“While all orders restarted in 2H FY2015, effects from the technology change will persist into 1H FY2016,” says Global Invacom in its filing.
Gross profit margin also fell to 19.3% from 23.7%.
Still, the group recognised four months’ revenue of US$17.5 million, from newly acquired Skyware Global.
Tony Taylor, Executive Chairman of Global Invacom, says, “Amidst economic uncertainties, we remain optimistic about the Sat Comms industry given rising demand for digital TV services and communications infrastructure.”
Global Invacom closed 1.46% higher at 14 cents.
Click Here To Register For Free Trial Services OR Give A Missed Call : +6531581402 Follow Us On Twitter : www.twitter.com/epicresearchsg Like Us On Facebook : www.facebook.com/EpicResearchSingapore Need Any Assistance Feel Free To Mail Us at : info@epicresearch.sg
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