HONG KONG -- Surface Mount Technology (Holdings) Inc. reported a December quarter loss of HK$2.9 million on a 24% drop in revenue to HK$573.7 million.

The EMS provider reported revenue of HK$755.6 million and a loss of HK$3.3 million last year.

The revenue drop was due to the sudden drop in global market demand in general and electronics products in particular, the company said.

Gross profit improved to 14% from 11.5% sequentially. The margin improved in part because the firm has laid off 2,200 workers. 

SMT said the drop in orders in the last quarter continued into January, but a slight pickup has

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