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ECS Holdings posts positive Q3 earnings

Ike Suarez | Dec. 9, 2013
Expects better FY 2013 than 2012’s

ECS Holdings Ltd. ended its Q3 last Sept.30 with $ 8.7 million in net profits after tax  up 4.5 % from its net profits after tax for its Q3 the previous fiscal year.

This was according to a recent press statement by the solutions provider that represents many of the industry's top global brands, as it announced key results of its financial performance for the 3rd quarter of its fiscal year 2013.

The statement said that in view of the results, it "expects FY 2013's performance to be better than FY 2012."

Revenue Growth

The statement said its 4.5 % growth in net profits after tax was due to its 11.4% revenue growth to $99.3 million when compared to the same period for FY 2012.

Its enterprise systems segment revenues grew 32.3% to $322.8 million in 3Q 2013 from$244 million in 3Q 2012.

Its distribution segment revenues grew 4.2 percent to $ 668 million.

North Asia revenues rose 8.5 % to $584.6 million from$ 538.9 million in 3Q 2012.

At the same time, Southeast Asia revenues increased 15.7 % to $ 414.7 million from $ 358.4 million in 3Q 2012.

Credited for the enterprise systems segment's revenue growth was the increased sales in networking hardware, servers, software products, and enterprise storage products.

Credited for revenue growth in revenues by the distribution segment was the increased sales of tablets, consumer storage and printers even if partially offset by a decline in notebook sales.

Increased revenues in North Asia were attributed to heightened sales of servers, networking hardware and software products.

That for Southeast Asia's was attributed to heightened sales of consumer storage products.

Gross profit for Q3 2013 increased 6.8 % to $38.2 million as against $ 35.8 million in 3Q 2012, brought about by increased revenues.

"However, gross margins declined to 3.8 % from 4.0 % due mainly to lower margins recorded by the enterprise segment," said the statement.

ECS Holdings Ltd is listed in the Singapore Exchange Mainboard and its earnings per share rose to 2.37 cents per share in 3Q 2013 from2.27 cents per share in 3Q 2012.

Its net asset value per share increased to 99.32 cents as of December 31, 2012.

 

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