TPV Technology (00903) said it reported a profit attributable to owners of US$9.89 million for the three months ended 31 March 2017, as compared to the loss of US$10.31 million for the same period in 2016.
This is the direct result of a US$34 million reduction in operating expenses compared with the same period in 2016 when the Group spent US$26.1 million on restructuring.
Basic and diluted earnings per share were US0.42 cent.
Revenue amounted to US$2,123 million, a decrease of 5.97% from a year earlier. The global supply shortage of panels during the period under review, particularly of TVs, affected the Group's sales volume.
The Group's gross profit margin, impacted by the high panel prices, declined from last year's 8.4% to 8%.
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