AmFraser Research in an Apr 12 research report says: "Revenue up 41% q-o-q (+42% y-o-y) to $49.8 million, with 1H revenue meeting 55% of our forecast. Margin rose 0.9ppt q-o-q (fell 1.2ppt y-o-y) to 37.5%, which was expected due to higher proportion of contract engineering work.
"PATMI up 44% q-o-q (+12% y-o-y) to $6.1 million, with 1H PATMI of $10.3 million meeting 46% of our full-year forecast, within expectations. Order book at $95.5 million, down from record $119 million in 1Q2012. Technics has guided for an 8 cents dividend to be paid after the 3Q results (sometime July), translating into a yield of 9%.
"We continue to value Technics at $1.22, equivalent to 11.5x 2012F EPS. Technics continues to be a strong dividend yield play with a good capital gains potential (34%). MAINTAIN BUY."
"PATMI up 44% q-o-q (+12% y-o-y) to $6.1 million, with 1H PATMI of $10.3 million meeting 46% of our full-year forecast, within expectations. Order book at $95.5 million, down from record $119 million in 1Q2012. Technics has guided for an 8 cents dividend to be paid after the 3Q results (sometime July), translating into a yield of 9%.
"We continue to value Technics at $1.22, equivalent to 11.5x 2012F EPS. Technics continues to be a strong dividend yield play with a good capital gains potential (34%). MAINTAIN BUY."
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