BANG KADI, THAILAND – SVI Public Co. Ltd. posted third quarter consolidated sales of $126.6 million, down 8% year-over-year and 6% sequentially. The firm says the decrease was more significant in Thai Baht, as Thai Baht was weaker in the third quarter of 2018 versus 2019.
Communications and Network, Industrial Control, Automotive, and Medical contributed more than 70% of sales.
Consolidated net income before tax for the third quarter was $3.8 million, a decrease of 57.9% year-over-year and 37.2% sequentially. Consolidated operating profit was $3.5 million, down 58% year-over-year and 1% sequentially.
For the first nine months of 2019, consolidated sales were $390.3 million, up 5.7% compared to the same period in 2018.
Total consolidated assets in the third quarter were THB 12.4 billion (US$410.2 million), an increase of THB 240 million from the previous quarter.