SINGAPORE – Surface Mount Technology Holdings reported third-quarter revenue was HK$755.6 million, up 19.6% year-over-year. Net loss was HK$3.3 million, down from a profit of HK$10.2 million a year ago.
EBITDA fell to HK$37.2 million from HK$48.7 million last year.
The growth resulted mainly from higher demand for turnkey projects in industrial control products, SMT says. Industrial controls made up 38% of revenue for the period. Revenues from computer peripherals, automotive electronics, and consumer electronics were 21%, 20% and 12%, respectively. Telecommunications was flat at 3%.
By region, Japan made up about 46% of sales, Korea 22%, Europe and the U.S. 23% (up 7 points) and rest of Asia 9%. Samsung, Clarion, Sony, Daikin and LG are the company’s top five customers, making up 53% of overall sales.
The outlook for 2008 is cautious with the business climate becoming more uncertain, SMT says. Customers are forecasting stable orders in the first half and increased demand in the second half. The company says it will benefit from demand for LCD TVs in 2008.
Production in the company’s second factory in Suzhou is expected to commence next quarter, while the Tianjin factory is on course to be operational in the second half of 2008.
Four SMT lines were installed during the third quarter, bringing the company’s total to 152.
US $1 = HK $7.80