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SINGAPORE: Singapore-listed Global Testing Corporation has reported a third quarter net loss of US$2.8 million.
This reverses a US$1.2 million net profit a year ago.
Revenue for the three months ended September fell 23.7 per cent to US$12 million.
The company said Monday the loss was mainly due to weaker market demand and a decline in customers' orders.
Looking ahead, Global Testing said that in line with seasonal slowness and ongoing inventory correction by customers, it remains cautious about its prospects as it enters into the fourth quarter.
Given the uncertain macro-demand outlook due mainly to the weakening US economy and high levels of inventory, it expects the demand from PC-related chips market to weaken.
However, the company expects to continue to see a healthy growth in orders from customers in the communication and consumer sectors.
In addition, it also plans to start providing new testing services for the automotive devices industry.
- CNA/yb
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