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Jurong Technologies Posts 3Q08 Net Profit Of S$0.7 Million Amidst Challenging Environment (12 Nov 08)

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  • Revenue: -45% (3Q08), -38% (9M08)
  • Net Profit: -95% (3Q08), -74% (9M08)
  • Outlook: The Group will continue to focus on strengthening its balance sheet, cost reduction, better inventory control and improving its production management as well as procurement efficiency.
  • The Group remains focused in pursuing its long-term objective of becoming a global provider of Original Design Manufacturer (“ODM”) and Electronics Manufacturing Services (EMS).
  • In 3Q08, the Group partnered a European partner to mass produce Energy Saving Light Bulbs (CFL) for the European and American markets.
  • The Group has also strengthened its manufacturing capabilities with the formation of a new business unit to focus on mechanical contract manufacturing (“MCM”) services.
  • Together with the above initiatives, the Group will also continue to adopt a proactive approach in monitoring and managing risks, which will help it to navigate through the immediate uncertainty in the global economic environment.
FINANCIAL RECORDS

Revenue (SGD '000)


FY 1Q 2Q 3Q 4Q Total
2008 145,984 125,519 132,006
2007 218,316 195,968 239,886 315,152 969,322
2006 298,708 249,293 282,882 434,740 1,265,623
2005 414,284 433,017 476,300 604,879 1,928,480
2004 203,242 256,743 378,591 434,026 1,273,602
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Earnings (SGD '000)

FY 1Q 2Q 3Q 4Q Total
2008 5,748 4,110 714
2007 12,782 13,895 13,456 14,663 54,787
2006 16,465 17,503 18,668 17,727 70,363
2005 14,758 15,349 16,974 19,665 66,460
2004 9,554 9,172 12,902 15,930 47,559
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Dividends

FY Interim Final Special (SGD)
2008 NA
2007 0.01 0.01 NA
2006 0.02 0.03 NA
2005 0.02 0.03 NA
2004 0.015 0.02 0.01
2003 10% 0.01 0.0075
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Bonus Issue / Stock Split

Date Type Details

2007-11-19 Rights OFFER OF 3 FOR 10 @ $0.37
2006-05-30 Bonus OFFER OF 1 FOR 10
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Share Data (SGD)

NAV = $0.499
EPS = $0.0174 (9M FY08)
Diluted EPS = $0.0174 (9M FY08)
No of Shares = 607,580,843
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ANALYSTS' TARGET PRICES

Broker Recommendation Target Price Date

NA



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