It said on Wednesday, May 5 revenue surged 82% to RM329.25 million, up 82% from RM180.68 million while earnings per share were 8.03 sen compared with a loss per share of 4.9 sen.
"The increase in revenue and significant improvement in the net profit was mainly due to the increase in overall sales volume as a result of recovery in the semiconductor industry," it said.
Unisem said the group achieved profit before taxation of RM45.8 million for 1Q, which represented a sequential quarterly increase of 25.4% from RM36.53 million achieved in 4Q of FY09. The improvement in pre-tax profit was mainly due to the increase in overall sales.
"The group saw a strong first-quarter performance in its business as opposed to a normally subdued first quarter following a seasonally strong fourth quarter. The board of directors expects the demand for the group's products and services to improve further in the second quarter and the business of the group for the remaining period to the end of the financial year to remain strong," it said.
Unisem proposed a three-for-10 bonus issue and a renouncable rights issue of 168.54 million new warrants on the basis of one new warrant for every four Unisem shares after the bonus issue.
The gross proceeds from the corporate exercise would be used for working capital and defraying expenses of the proposed issues.
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