SINGAPORE – Top 10 EMS provider Venture Corp. today reported first-quarter revenue of S$639.5 million, down 11.9% from last year.

The net profit for the quarter ended March 31 was S$39.5 million, up 42.3% from a year ago.

For the quarter, cash from operations was S$32.8 million, and at quarter’s end, the company had cash and cash equivalents of S$492.7
million, and S$123 million in outstanding debt.

The company cited lower sales from its Printing and Imaging business end-markets for the drop in revenue. All other segments registered double-digit year-on-year improvement ranging from 12% to 23%, Venture said.

In a nod to the difficult component supply environment, Venture said it would increase raw material inventories.