Hi-P International Ltd. reported unaudited group earnings results for the second quarter and half year ended June 30, 2012. For the quarter, the company reported revenue of SGD 251,762,000 against SGD 229,917,000 a year ago. Loss before tax was SGD 2,298,000 against profit before tax of SGD 15,269,000 a year ago. Loss attributable to owners of the company was SGD 2,114,000 against profit attributable to owners of the company of SGD 11,228,000 a year ago. Net cash flows used in operating activities was SGD 30,472,000 against net cash flows generated from operating activities of SGD 2,873,000 a year ago. Purchase of property, plant and equipment was SGD 29,748,000 against SGD 11,831,000 a year ago. Loss per ordinary share on a fully diluted basis was 0.25 cents against earnings per ordinary share on a fully diluted basis of 1.30 cents a year ago. Revenue increased 9.5% year on year mainly due to an increase in high level assembly projects. Net loss was due to change in product mix and closure of Mexico operations. For the half year, the company reported revenue of SGD 530,117,000 against SGD 473,206,000 a year ago. Loss before tax was SGD 400,000 against profit before tax of SGD 39,321,000 a year ago. Loss attributable to owners of the company was SGD 583,000 against profit attributable to owners of the company of SGD 29,090,000 a year ago. Net cash flows used in operating activities was SGD 34,260,000 against net cash flows generated from operating activities of SGD 52,356,000 a year ago. Purchase of property, plant and equipment was SGD 46,775,000 against SGD 19,065,000 a year ago. Loss per ordinary share on a fully diluted basis was 0.07 cents against earnings per ordinary share on a fully diluted basis of 3.38 cents a year ago. Barring unforeseen circumstances, the group expects higher revenue in the third quarter of 2012 as compared to the second quarter of 2012. The group also expects to be profitable in the third quarter of 2012. The group expects similar revenue but higher profit in the third quarter of 2012 as compared to the third quarter of 2011. The group expects higher revenue and profit in the second half of 2012 as compared to the first half of 2012. The group expects higher revenue and profit in the fiscal year 2012 as compared to the fiscal year 2011. The company expects capex of SGD 180 million to increase production capacity and capability to support new projects in the fiscal year 2012.