KUALA LUMPUR: Aemulus Holdings Bhd posted a net loss of RM4.8mil in the first quarter ended Dec 31, 2022 (1Q), against a net profit of RM4.5mil in the same quarter last year.
Its revenue tumbled 47% to RM9.8mil in 1Q from RM18.6mil due to cautious capital expenditure spending from customers which foresee a slowdown in the semiconductor industry and deferment of delivery for the quarter under review due to a slowdown in customers’ expansion pace.
Aemulus’ loss per share stood at 0.75 sen from 0.73 sen a year ago.
The automated test equipment (ATE) manufacturer said the capital spending by its customers have reduced significantly and the market is expected to take a breather for a period of between three to six months.
“In view of that, our cash flow control and management which we highlighted last quarter have delivered positive results. We have reduced our inventory and we expect to reduce it further next quarter.
“The group shall crank up business development activities in the automotive market in the coming quarters. We observed delays in customer projects but the overall business landscape remains positive,” Aemulus said.
It noted that the PC market had declined in the start of 2023.
The company is still hopeful that the network processor segment which contributes to our enterprise storage market shall be able to grow further, if not holding its current demand position.
Smartphone/tablet market has declined sharply and shall continue to do so in the next few quarters.
“This may give short-term impact on us but we expect a recovery within 3 to 6 months. The easing in traveling and quarantine restrictions in China shall help in such recovery.
“The group is braving through the global uncertainties both economically and geopolitically. In short, the fundamentals of the group remain good in terms of bookings, products, and financial,” Aemulus said.