KUALA LUMPUR (Sept 29): Automated manufacturing solutions provider ECA Integrated Bhd's earnings for the nine months ended July 31, 2023 (9MFY2023) surged to RM10.81 million versus RM4.84 million a year earlier.

Revenue increased 57.09% to RM30.90 million from RM19.67 million, while earnings per share rose to 1.87 sen from 1.13 sen, its bourse filing on Friday showed.

“Overall, the primary driver behind these favourable financial results is the increase in demand for our integrated production system and standalone automation equipment in addition to better overall cost management,” said the group in notes accompanying the results.

“This large growth also indicates the group's ability to maintain and sustain its market share within the current competitive market landscape.”

Meanwhile, its net profit for the third quarter ended July 31, 2023 (3QFY2023) fell 2.78% to RM3.15 million from RM3.24 million the previous year “due to an increase in administrative expenses”, bringing its basic earnings per share to 0.54 sen for 3QFY2023 from 0.76 sen, read its bourse filing on Friday.

Quarterly revenue, meanwhile, improved by 8.77% to RM10.91 million from RM10.03 million.

On its prospects, ECA is aiming to fortify its standing as an automation solutions provider and resolute in adhering to its long-term business strategy, despite challenges faced by the semiconductor sector.

“This approach is geared toward unlocking growth in market share through the introduction of new products.”

 “Furthermore, the group will persist in directing its efforts towards strategies for sustained expansion, nurturing customer relationships and fostering innovation in its product offerings.”

The group also noted that its standalone automated equipment, designed for the semiconductor industry on the automotive and EV end applications, as well as its integrated production solutions for its consumer electronics segment, continue to show positive aspects in the group’s order pipeline.

 “Barring any unforeseen circumstances, the group is confident in its ability to sustain solid earnings throughout the financial year ending in 2023.”

At market close, ECA shares rose one sen or 1.23% to 82.5 sen, valuing the group at RM476.4 million. Year-to-date, its shares has increased 2.48%.