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Serial Systems nets US$ 2.1 million after tax profit for Q1 2014

Ike Suarez | May 5, 2014
Bulk of revenue garnered from North Asia sales

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.

Turnover

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.

 

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