Meiban 1Q result
1Q09 result announcement
http://info.sgx.com/webcoranncatth.nsf/VwAttachments/Att_37DCC0ECDE1ECAD3482575AE002886F8/$file/MGL_Results_1Q310309_final.pdf?openelementHighlights:
1. Q to Q, revenue declined 40%, net profit declined 18%.
2. cash increased from 27mil to 33mil, debt decreased from 9.5mil to 4.5mil, which translates into abt net cash 9c per share.
3. eps 0.9c. Annualized eps is estimated at 3.6c, down from 6.4c in 08fy, 7c in 07fy. However, 3.6c is much better than 2.6c that was expected by CIMB, which is the only house that I found issued reseach report on meiban.
This is a good company. it has consistent dividend payout. 2c in recent 2 years, 1.5c in the years before. i expect its business to recover in the coming Qs. In fact, another contract manufacturer Venture already said orders were picking up from its customers. meiban and venture have a common big customer HP.
Share price is closed at 21c today.