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MICRO-MECHANICS STAYS PROFITABLE IN FY2009 DESPITE PROTRACTED SLOWDOWN IN SEMICONDUCTOR INDUSTRY (29 Aug 09)

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  • Revenue: -13.3% (FY09)
  • Net Profit: -93.9% (FY09)
  • Press Release: Net profit declined to S$0.5 m due mainly to loss incurred at new plant in USA
  • Maintained sound financial position with cash of S$7.5 m and no bank borrowings
  • Recommending final dividend of 1 cent (one tier tax-exempt) per share
  • Outlook: Thus far in the new financial year, the Group has seen its business in Asia begin to recover.
  • The Group's biggest challenge is to bring its operations in the USA to profitability.
  • In spite of the challenges ahead, the Group remains excited about the potential this acquisition has brought to Micro-Mechanics and will work to return the Group to a path of profitable growth.

FINANCIAL RECORDS

Revenue (SGD '000)

FY 1Q 2Q 3Q 4Q Total

2009 11,686 8,964 5,463 7,030 33,143
2008 9,555 9,692 9,172 9,787 38,206
2007 8,925 8,778 8,056 8,936 34,695

FY 1H 2H Total
2006 15,369 16,333 31,702
2005 13,536 13,069 26,605
2004 NA NA 23,247
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Earnings (SGD '000)

FY 1Q 2Q 3Q 4Q Total
2009 2,109 170 (1,407) (332) 540
2008 2,507 2,536 2,083 1,732 8,858
2007 2,309 2,120 1,708 2,164 8,301

FY 1H 2H Total
2006 3,664 4,068 7,732
2005 2,848 2,593 5,441
2004 NA NA 4,731
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Dividends

FY Interim Final Special (SGD)
2009 0.010 0.010 NA
2008 0.020 0.030 NA
2007 0.015 0.020 0.010
2006 0.010 0.025 NA
2005 0.010 0.020 NA
2004 NA 0.015 NA
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Bonus / Rights / Stock Split

Date Type Details

2005-11-04 Bonus OFFER OF 1 FOR 4
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Share Data (SGD)

NAV = $0.2383
EPS = $0.0039 (12M FY09)
No of Shares = 138,485,881
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ANALYSTS' TARGET PRICES

Broker Recommendation Target Price Date
NA



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