KUALA LUMPUR: ELSOFT RESEARCH BHD's share price fell 1.7% this morning after it reported lower earnings in the second quarter ended June 30.
The counter fell 1.69%, or 1.5 sen to 87.5 sen with 700,500 shares traded. It is currently trading at a PE of about 16 times.
Elsoft's second quarter top line and bottom line nearly halved on lower demand for the group's
automated test equipment (ATE).
Its net profit for the quarter ended June 30, 2019 tumbled 47.65% to RM6.29mil, from RM12.01mil a year earlier. Earnings per share dropped to 0.94 sen from 1.81 sen.
Revenue for the quarter fell 48.94% to RM12.33mil from RM24.15mil.
The group declared an interim dividend of one sen a share, against 1.25 sen a year ago, bringing the total payout for the first half of the year to two sen a share.
In the first six months, Elsoft’s net profit fell 44.39% to RM11.18mil, from RM20.10mil in the same period last year.
Revenue for the period saw a similar decline of 44.78% to RM22.22mil, from RM40.64mil previously.
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