KUALA LUMPUR: PIE Industrial Bhd's earnings slipped 17.2% to RM7.90mil in the second quarter ended June 30, 2014 from RM9.55mil a year ago mainly due to the lower margin of product mix and higher provision for slow moving inventory.
For the first half, its earnings rose 12.8% to RM17.02mil from RM15.08mil in the previous corresponding period. Its revenue increased by 43.5% to RM272.59mil from RM189.92mil.
On the outlook, PIE Industrial expected existing and new customers to outsource their products to the group, especially in medical devices and touch panel screen of big size display.
The expectations were after its significant upgrade in vertical integration capability and precision manufacturing.