17 May 2012

JCY International quarterly earnings surged 1,209% to RM 163 million on better HDD component selling prices and higher sales volume due to shortages in supply from Thailand floods

(JCY opening stock price today (17.5.2012) was RM 1.51)

Hard-disk drive manufacturer JCY International Bhd's earnings surged 1,209% to RM163.09mil in the second quarter from RM12.46mil a year ago, boosted by higher average selling prices.

It reported on Thursday its revenue increased 45% to RM576.58mil from RM397.43mil.

"This was due mainly to better average selling prices as a result of shortages in HDD mechanical components after the October 2011 Thailand floods, favourable exchange rates and higher volumes shipped during the periods," it said.

Earnings per share were 7.98 sen compared with 0.61%. It recommended a single tier tax-exempt second interim dividend of three sen per share or 12% for the financial year ending Sept 30.

For the first half, its earnings jumped 1,530% to RM325.54mil from RM19.97mil in the previous corresponding period. Its revenue increased by 35.8% to RM1.135bil from RM836.33mil.

Source: www.thestar.com.my


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