| Venture Maintains Momentum |
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| Written by Mike Buetow | |||
| Thursday, 19 February 2009 08:07 | |||
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SINGAPORE – Venture Corp., a top 10 EMS company, reported net fourth-quarter profits of S$4.6
million, bogged down by non-operational charges, on sales of S$906.9
million. The EMS company, which ranked 8th in the Circuits Assembly EMS Top 50, took charges related to fair value loss on derivative financial instruments of S$57.6 million and an impairment of S$6.3 million on an associate. Excluding non-operational charges, earnings would have been S$68.5 million. For 2008, revenue slipped 2.3% year-over-year to S$3.8 billion ($2.49 billion). Translated for currency effects, revenue in US dollars grew 4.6%. The net profit plunged 44.6%, on non-operational charges of S$114.5 million; sans the charges the company had earnings of S$288.3 million. Cash from operations was S$345.7 million and free cash flow was S$313.1 million for 2008. 1 SGD = 0.654772 USD
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