Serial Systems Ltd. garnered a net profit after tax (NPAT) of US $ 2.1 million for its financial period of January to March 2014, according to a press statement by the Singapore-based distributor of electronic components within the region.
The press statement said the NPAT came on the heels of the US $ 212.4 million in revenues earned during the said financial period.
It added the NPAT represented 31% growth over the same period the previous year.
The growth outpaced the distributor's revenue growth of 24% also for that same period during that previous year.
North Asia accounted for 83% of its sales turnover for Q1 2014, according to the company's press statement.
Making this possible was a surge in orders by a Chinese manufacturer of smart phones, televisions and routers.
The press statement said Serial Systems Ltd., listed in the SGX-Mainboard, has targeted US $ 1 billion worth of sales for its financial year ending December 31,2014.
Some of the electronics components it distributes are semiconductors., modules and connectors.
Sign up for CIO Asia eNewsletters.