Action Asia posts 87% drop in 1Q net profit to $0.89m

Action Asia, the designer, manufacturer and assembler of video and audio mobile entertainment products has reported a net profit of $0.89 million on revenue of $40.39 million. Net profit was 87% lower compared with $6.97 million in 1QFY2010. The decrease in net profit was mainly due to the 41% decline in group revenue from lower orders for the group’s consumer lifestyle entertainment products and lower selling prices for its older product models.