HONG KONG -- EMS provider SMT Holdings reported fiscal fourth-quarter sales fell 20.7% to HK$144.9 million for the March period.

The company's profit not including taxes and one-time charges jumped to HK$10.2 million from a loss of HK$144.5 million a year ago. The net profit was $168 million, up from a loss of HK$159 million.

Gross margin for the quarter increased from 20.9% in the December quarter to 22.4% in the March quarter.

For the fiscal year ended March 31, the contract assembler's revenue was HK$621.5 million, down from HK$1.13 billion the previous financial year. Profit attributable to shareholders was HK$276.8 million (S$44.8 million) as compared to a loss attributable to shareholders of HK$229.4 million (S$37.1 million) previously.