EPS Surpasses Expectations, However Revenues Fall Short

Globetronics Technology Bhd (KLSE: GTRONIC) reported its full year 2023 financial results, showing a decrease in revenue, net income, and profit margin compared to the previous year. Revenue was RM131.8m, down 27% from FY 2022, while net income was RM26.4m, down 42% from FY 2022. The profit margin was 20%, down from 25% in FY 2022, primarily due to lower revenue. Earnings per share (EPS) also decreased to RM0.039 from RM0.068 in FY 2022.

Revenue fell short of analyst estimates by 14%, while EPS exceeded expectations by 1.3%. Looking ahead, the company is forecasting a 12% average annual revenue growth over the next 3 years, compared to a forecasted 14% growth for the Semiconductor industry in Malaysia. The performance of the Malaysian Semiconductor industry has been impacted, with the company’s shares down 7.1% from a week ago.

In terms of risk analysis, there is a warning sign that investors should be aware of before investing in Globetronics Technology Bhd. It is important to consider this information before making any investment decisions. If you have feedback or concerns about the content provided, you can get in touch with us directly or email the editorial team at editorial-team (at) simplywallst.com.

This article by Simply Wall St is based on historical data and analyst forecasts, providing commentary on the financial performance of Globetronics Technology Bhd. It is not intended as financial advice and does not recommend buying or selling any stock without considering your own objectives and financial situation. The analysis is driven by fundamental data, but may not include the latest company announcements or qualitative information. Simply Wall St does not have a position in any stocks mentioned.