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TEE International’s 4Q earnings dip 69% to $2.6 mil

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TEE International’s 4Q earnings dip 69% to $2.6 mil

Michelle Zhu Published on Thu, Jul 28, 2016 / 7:57 AM GMT+8

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SINGAPORE (July 28): TEE International posted earnings of $2.6 million for its 4Q16 ended May, 68.9% lower than its earnings of $8.3 million for the same period a year earlier.

Revenue grew 4.5% to $93.5 million but cost of sales increased 18.8% to $83.9 million.

Gross profit fell by 49.2% to $9.6 million.

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