AEM Q1 profit more than triples to $40.8m on record quarterly revenue
SINGAPORE (THE BUSINESSS TIMES) – Semiconductor equipment maker AEM Holdings on Thursday (May 5) reported $40.8 million in net profit for its first quarter ended March 31, 2022, more than tripling its $13.3 million profit recorded for the year-ago period.
The increase in net profit comes on the back of a record quarterly revenue of $261.9 million, which the electronic services provider said was the highest in the group’s history, up from $80.2 million a year ago.
Revenue growth was mainly driven by a strong uptake in the group’s new-generation equipment and tools, and the consolidation of its subsidiary CEI, which the group acquired in the first half of 2021, AEM said.
Earnings per share stood at 13.1 cents in the first quarter of 2022, a 172.9 per cent year-on-year increase from 4.8 cents in the first quarter of 2021.
AEM said it has raised the group’s revenue guidance for the full financial year to between $700 million and…
