Avi-Tech Electronics Ltd. reported unaudited consolidated earnings results for the second quarter and six months ended December 31, 2015. For the quarter, the company reported revenue of $7,867,000 compared to $6,893,000 a year ago. Profit before income tax was $2,031,000 compared to $1,176,000 a year ago. Profit attributable to owners of the company was $1,679,000 compared to $2,634,000 a year ago. Earnings per diluted share were 0.98 cents compared to 1.54 cents a year ago. Net cash generated from operating activities was $2,794,000 compared to net $1,024,000 a year ago. Additions to property, plant and equipment was $14,000 compared to $63,000 a year ago. Profit for the period from continuing operations was $1,679,000 or 0.98 cents per diluted share against $1,170,000 or 0.68 cents per diluted share a year ago. The increase in revenue was primarily due to the increase in sales reported by the Engineering Services business segment, which contributed 34.8% to the Group's revenue in second quarter of 2016 as compared to 17.7% in second quarter of 2015. The decrease in profit for the comparative periods was a result of no further gains being registered in the discontinued operations of the US subsidiaries, and foreign exchange rates contributing to higher administration expenses.


For the six months, the company reported revenue of $15,852,000 compared to $14,106,000 a year ago. Profit before income tax was $4,332,000 compared to $1,871,000 a year ago. Profit attributable to owners of the company was $3,447,000 compared to $4,344,000 a year ago. Earnings per diluted share were 2.01 cents compared to 2.53 cents a year ago. Net cash generated from operating activities was $5,061,000 compared to $1,499,000 a year ago. This was primarily due to the higher profit generated in the continuing operations, as compared to the prior period. Additions to property, plant and equipment was $20,000 compared to $617,000 a year ago. The increase in revenue was primarily due to the increase in sales reported by the Engineering Services business segment, which contributed 36.2% to the Group's revenue in the first half of 2016 as compared to 26.8% in first half of 2015. The decrease in profit for the comparative periods was a result of no further gains being registered in the discontinued operations of the US subsidiaries, and foreign exchange rates contributing to higher administration expenses. Profit for the period from continuing operations was $3,600,000 or 2.10 cents per diluted share against $1,866,000 or 1.09 per diluted share a year ago. Net assets value per ordinary share as at December 31, 2015 was 25.69 cents against 25.58 cents a year ago.