BINAN, PHILIPPINES – Cirtek Holdings Philippines reported first quarter gross revenues up 6% year-over-year to $22.3 million due to an increase in orders for its antenna products, say reports.

Cirtek’s wholly-owned subsidiary Quintel USA had gross revenues of $6.9 million, up 3% year-over-year.

The electronics manufacturer’s earnings surged 8,664% to $1.27 million during the period due to improved sales and better operating profit margins.

Revenues from RF/microwave/millimeter wave and antenna manufacturing businesses grew 37% to $5.7 million, while revenues from the semiconductor business fell 4.5% to $9.7 million.

The firm’s current manufacturing capacity is at 60% because of Covid-19 restrictions.

“As part of Cirtek’s business continuity and expansion plans, it is in talks with an additional contract manufacturing partner in China, as well as qualifying a new Taiwan facility in response to supply chain diversification and business resiliency plans moving forward,” the company said.

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