Trek 2000’s 2Q earnings rise 3.3%

SINGAPORE (Aug 19): Trek 2000 International reported 2Q earnings rose 3.3% to US$1.1 million ($1.5 million) from the previous year.

For the three months ended June, revenue rose 16.6% to US$48.8 million from the previous year, lifted by sales from its core Interactive Consumer Solutions (ICS) Division, which increased to US$79.1 million driven by an increase in demand for Internet of Things (IoT) Wi-Fi memory modules and solutions.

However, gross profits decreased by 4.9% to US$6.8 million as gross profit margin declined marginally by 2.1 percentage points to 8.3% due to it’s strategy of securing higher volume business and growing market share.

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