CONSOLIDATED FINANCIAL PERFORMANCE ($’000)
FY2015 FY2014 Change %
Continuing Operations
Revenue
28,390
22,995
23.5
Cost of sales
(21,509)
(19,672)
9.3
Gross profit
6,881
3,323
107.1
Administrative expenses
(4,033)
(4,714)
(14.4)
Profit/(Loss) before income tax
3,868
(421)
n.m.
Income tax expense
(146)
(118)
23.9
Profit/(Loss) for the year from continuing operations
3,722
(539)
n.m.
Discontinued Operations
Profit/(Loss) for the year from discontinued operations
2,828
(9,393)
n.m.
Profit/(Loss) for the year from both continuing and discontinued
operations
6,550
(9,932)
n.m.
n.m.: not meaningful
For the financial year ended 30 June 2015 (“FY2015”), the Group reported a profit of $6.6 million as compared
to a loss of $9.9 million for FY2014. The transition from loss-making to profitability was attributed to the profits
registered in the continuing operations where the Burn-in Boards and Board Manufacturing, Burn-in Services
and Engineering Services business segments had recorded an increase in revenue as well as higher gross profit
margin. This is in addition to the gains registered in the discontinued operations of the US subsidiaries. FY 2015
also registered favorable foreign exchange gain as compared to FY 2014 which contributed to a decrease in
administrative expenses and, correspondingly, attributed to an increase in profitability.
REVENUE BY BUSINESS SEGMENTS ($’000)
12,000
10,000
8,000
6,000
4,000
2,000
6,656
4,591
11,071
13,844
0
Burn-In Services
Engineering
7,333
7,890
FY2015
FY2014
Manufacturing
14,000
16,000
Burn-in Services which contributed 23.4% of Group’s revenue in FY2015 (FY2014: 20.0%) reported revenue for the
year of $6.7 million, an increase of $2.1 million or 45.0%. The increase is contributed by the higher sales from key
customers.
17
AVI-TECH ELECTRONICS LIMITED
| ANNUAL REPORT 2015
FINANCIAL
REVIEW
