SINGAPORE -- Venture Corp. reported first-quarter revenue rose 3.6% year-on-year to S$630.7 million ($469.9 million).

The pretax profit was S$42.5 million for the quarter ended 31 March 2016, an increase of 10.7% compared to the prior year.

Net income for the period ended Mar. 31 rose 10.1% from a year ago to S$35.8 million.

The profit margin was 5.7%. Cash from operations was S$100 million, up S$60 million.

At quarter's end, cash on hand rose to S$527 million from S$459.3 million as of Dec. 31.

While calling the global economic environment "challenging," Venture said it made progess toward improved profitability during the quarter. "This was largely underpinned by strong R&D initiatives, innovation in product and solution development and sustained operational excellence. These performance imperatives have enabled the company to increase its market share and capture additional opportunities across its diversified and healthy customer base."

Venture is the world's 19th largest EMS company, according to the CIRCUITS ASSEMBLY Top 50.

Ed.: S$1 = US$0.745

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