KUALA LUMPUR: Automated manufacturing solutions provider ECA Integrated Solution Bhd (EIS) posted a net profit of RM3.5 million for the second quarter (Q2) ended April 30, 2023 (FY23) compared to RM4.1 million posted in the first quarter (Q1) FY23.
Revenue stood at RM9.3 million against RM10.6 million in Q1 FY23.
The softer quarter-on-quarter (QoQ) performance was mainly due to the slight decrease in integrated production systems (IPS) deliveries in Q2 FY23.
No comparative figures for the preceding financial year's corresponding quarter are presented, as this is the fourth condensed interim financial report announced by EIS.
For the first half (1H) of FY23, EIB recorded a net profit of RM7.7 million on the back of RM20.0 million in revenue, translating into a net profit margin of 38.3 per cent.
Notably, the 1H FY23 top- and bottom-line figures already account for 72.6 per cent and 98.2 per cent of full-year FY22's reported performance.
EIB executive director and chief operating officer Chua Lye Hock said the company has managed to grow its business, which is evident in its performance, where 1H FY23 revenue and net profit numbers exceeded FY22 figures.
"As we move into 2H FY23, the team is working very hard to sustain our performance, notwithstanding the macroeconomic headwinds and uncertainties, particularly in the semiconductor industry," he said in a statement.
"Fortunately for us, the prospect for automation solutions remains positive, and we are encouraged by the growing number of customer inquiries we received, pointing to the healthy demand for our customisation solutions.
"We expect activities to pick up in 2H FY23 with more deliveries of IPS on the card," he said.
Chua said against this backdrop, EIB maintained a cautiously optimistic outlook for FY23.
The company remained focused on the execution of its long-term growth strategies to position itself for a strong recovery in the semiconductor sector in the near future, he said.