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Politics : Formerly About Applied Materials -- Ignore unavailable to you. Want to Upgrade?

To: StanX Long who wrote (56647)	11/30/2001 3:48:05 AM
From: StanX Long	Read Replies (1) \| Respond to of 70976

Friday November 30, 2:38 PM Hong Kong's Idt International Posts 33PCT Drop in Turnover HONG KONG, Nov 30 Asia Pulse - IDT International Limited (HKEX:167), a manufacturer of electronics and telecommunications products, has announced a 33 per cent drop in turnover for the six months ended September 30, 2001, to HK$1,079.8 million (US$138 million). The drop was mainly attributable to the telecommunications and electronic personal information products divisions, according to a company statement to the Hong Kong Stock Exchange. Profit attributable to shareholders for the period was HK$51.0 million. On the other hand, the group's branded business enjoyed an increase in turnover of 5 per cent to HK$393.4 million over the corresponding period last year. The growth in this business contributed to an improvement of the group's gross margin from 26 per cent to 32 per cent. Net cash balances and shareholders' funds at the end of the period were HK$396.9 million and HK$1,062.3 million respectively. Raymond Chan, the chairman and CEO of IDT International, said: "We are encouraged by the growth in our own branded business, despite an overall turnover drop, due to a softer market for consumer electronic products under the prevailing economic environment. In the longer term, however, we are confident that the group is well-equipped to cope with challenges that lie ahead and achieve growth for our business." The LCD Consumer Electronic Products division recorded sales of HK$421.4 million. Branded sales grew by 3 per cent, compared with the corresponding period last year. The Telecommunication Products division recorded sales of HK$324.7 million. The drop to the Group's turnover was partly attributable to this division's performance. The Electronic Personal Information Products division recorded sales of HK$117.6 million and the Electronic Learning Products division recorded sales of HK$201.0 million. ASIA PULSE