SINGAPORE – Top 20 electronics manufacturing services provider Venture Corp. reported second-quarter profits fell 10.6% year-over-year to S$30.1 million ($23.7 million). The contract assembler cited higher income tax provision for the drop.

Revenue for the period ended June 30 slipped 3.9% to S$587.7 million ($463.5 million).

In a statement, the EMS firm said demand from existing customers is picking up and it expects to see higher revenue from new customers and new programs.

Ed.: 1 SGD = 0.788688 USD