Venture Corporation has recorded a net profit of $35.4 million for the quarter ended 30 September 2011 (3Q2011). The net profit for the corresponding quarter of the prior year was $48.6 million.
Revenue recorded for the quarter was $583.6 million. On a year-on-year basis, revenue was 13.9% lower, largely attributed to the year-on-year USD/SGD depreciation of approximately 11%.
For the reported quarter, the Computer Peripherals & Data Storage, Retail Store Solutions & Industrial Products and the Test & Measurement/Medical/Others segment registered year-on-year volume growth. However this was not sufficient to offset the volume decline in the Networking & Communications and the Printing & Imaging segments.
Given the current global economic outlook, Venture Corp says a number of the group’s customers have exercised some degree of cautiousness in their near-term demand forecast. However, most customers of the group maintain a healthy long-term outlook.
While the group remains cautious about the immediate business and operating environment, it is confident that it is well-positioned for future sustainable growth.
The group has established a diverse customer base and built competency in multiple domain technology areas. This diversity will continue to provide growth opportunities and overall corporate resilience.
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