Venture Corp has reported 2HFY2021 earnings of $171.7 million, up 2.9% y-o-y. Revenue in the same period was $1.68 billion, up 1.7% y-o-y.
Earnings for whole of FY2021 was $312.1 million, up 5%. Revenue, meanwhile, was up 3.1% over FY2020 to $3.11 billion.
It managed to slightly improve its net margin to 10% for FY2021 from 9.9% in FY2020.
Citing customers’ orders thus far, the company sees “a robust demand” outlook across various major segments.
For example, there’s growing demand for devices used in so-called next-generation sequencing.
Positive market momentum is also visible across instrumentation, test and measurement, networking and communications, as well as advanced industrials domains, where several new product introductions are expected.
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Customers in the lifestyle and wellness sectors have provided positive outlook regarding their demand schedule for the year, Venture says.
“Notwithstanding a healthy order pipeline, the key impediment to fulfilment is the ongoing supply chain disruptions which affects the availability of parts and components.
“Other potential headwinds include the emergence of new Covid variants which may impact macro-economic activities,” the company cautions.
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The company plans to pay a final dividend of 50 cents per share, bringing the full year payout to 75 cents.
Venture Corp closed Feb 25 at $17.68, up 2.73% for the day, but down 4.17% year to date.
