Avi-Tech profit up 16.6% to $1.71m in 1QFY18

Thanks to higher revenue from manufacturing and PCBA services.

Avi Tech Electronics profit increased by 16.6% YoY to $1.71m in 1QFY18 due to higher revenue contributions from manufacturing and printed circuit boards assembly (PCBA) services segments and burn-in service units which grew 61% YoY to $6.6m and 14% YoY to $2.4m respectively.

According to its financial statement, revenue also grew 31.3% YoY to $11.14m.

Long-term growth prospects are largely positive for the electronics company as it will benefit from increased incorporation of electronics for the automotive sector, said analyst Jarick Seet of RHB Research.

Seet added that Avi Tech’s electronics services unit is in prime position to profit from increasing take-up of the disruptive technologies of Internet of Things (IoT), cloud businesses and smart cities.