ViTrox optimistic on semiconductor sector growth

25 Apr 2024

Vitrox Corp Bhd is optimistic that the global semiconductor industry will pick up its momentum gradually in the coming quarters.

The electronics manufacturing services (EMS) provider also maintains an optimistic outlook regarding the sustained growth in demand from artificial intelligence (AI), telecommunications, and automotive sectors in the near future.

“The group continues to focus on pursuing new opportunities through product innovation, enhancing customer services and exploring new markets coupled with tight cost control measures to stay competitive and resilient in the global market,” it said in a filing with Bursa Malaysia.

In the first quarter ended March 31, ViTrox’s net profit tumbled 48% to RM17.23mil, or earnings per share of 1.82 sen against RM33mil, or 3.49 sen achieved in the same quarter a year ago.

ViTrox said the decrease was primarily due to unfavourable product mix coupled with higher research and development (R&D) expenditures to support various new product introduction (NPI) projects.

Revenue for the period fell 10.3% to RM119.6mil against RM133.3mil posted last year, mainly due to softer demand from automated board inspection (ABI).

Source: The Star