PETALING JAYA: Elsoft Research Bhd
’s profitability is anticipated to improve gradually, in tandem with the anticipated rebound in the global semiconductor demand, TA Research says.
This is in spite of weaker-than-expected results in the second quarter of its financial year 2024 (2Q24).
Elsoft is provides supporting services and equipment for the semiconductor, optoelectronic and automation industries.
Elsoft recorded a core profit of RM2.1mil for the first half of 2024, lower by 59.9% year-on-year (y-o-y) due to lower revenue.
The group’s revenue fell by 21.4% y-o-y to RM8.4mil from RM10.7mil, which was a result of the ongoing decline in demand for automated test equipment.
TA Research said the reported core profit came in below expectations, accounting for 21.9% of its full-year estimate.
The research house said the group is, however, seeing a consecutive quarterly earnings recovery.
Despite having lower revenue of RM3.8mil in 2Q24, Elsoft’s core profit rose by 33% quarter-on-quarter to RM1.2mil.
