KUALA LUMPUR -- Contract assembler EG Industries reported fiscal fourth quarter revenue rose 63% to RM262.6 million ($61.5 million) on higher demand for data storage products.

The net profit rose 19% from a year ago to RM2.95 million. The pretax profit was RM3.04 million, down 46.4% due to one-time gains in the prior year period.

For its fiscal year ended June 30, EG Industries reported revenue rose 40% to RM1.02 billion ($235 million). Net profit was up 32% to RM22.98 million, while pretax income increased 12% to RM24.77 million.

Sales of printed circuit board assemblies rose 47% for the year to RM856.8 million, while box-build products rose 27.5% to RM161.3 million. EG also is known as SMT Technologies Sdn Bhd, which it acquired in 2004.  

The company also announced plans to begin distribution services, calling it a "natural progression" to its EMS expertise.

"This will make us a vertically integrated EMS player that grants customers a gateway into the fast-growing South East Asian market,” said CEO Alex Kang.

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