SEMICONDUCTOR manufacturer UMS Holdings : 558 0% on Wednesday (Feb 28) recorded a net profit of S$15.7 million for the fourth quarter ended Dec 31, 2023, dipping 3 per cent from the earnings of S$16.1 million in the corresponding year-ago period.

 

This translated to earnings per share (EPS) of S$0.0234, down from S$0.0241 in Q4 FY2022.

 

Revenue for the period slid 27 per cent year on year to S$73.5 million, from S$101 million. This was attributed to lower revenue in the semiconductor and others segments in Q4 FY2023.

 

Semiconductor revenue for the three months fell 29 per cent to S$59.8 million year on year, due to declines in sales for the group&rsquo s semiconductor integrated systems and components.

 

Meanwhile, revenue in the others segment slumped 48 per cent to S$6.3 million, due to UMS&rsquo weaker material and tooling distribution business, which was affected by the general business slowdown.

 

The revenue dip was partially offset by a 78 per cent surge in aerospace sales to S$7.4 million.

 

Nonetheless, the group said it continued to generate positive net cash of S$31.2 million from operating activities, and free cash flow of S$23.8 million in the three months.

 

It declared a final dividend of S$0.022 per share for FY2023, higher than S$0.02 per share declared for FY2022.

 

For the full year ended Dec 31, 2023, net profit fell 39 per cent to S$60 million, from S$98.2 million a year earlier.

 

Revenue for the 12 months slid 19 per cent to S$300 million, from S$372.4 million.

 

UMS chairman and chief executive Andy Luong said: &ldquo The group&rsquo s performance reflects the success of our diversification strategy, as the aerospace business continued to report robust growth, moderating the impact of the global semiconductor slowdown.&rdquo

 

The group expects to remain profitable in FY2024.