Rakon 1H earnings jump on one-off gain, improved margins

Wed, 14 Nov 2018

By Rebecca Howard Nov. 15 (BusinessDesk) - High-tech components maker Rakon reported a lift in first-half earnings as revenue increased and its cost of sales remained stable. Net profit was sharply higher, largely due to a one-off $7.2 million gain after it changed the way its investment in 'internet of things' start-up Thinxtra is accounted for. Gross profit was $24.6 million in the six months to Sept. 30, up 22 percent versus the prior period, on a 10 percent lift in revenue to $53 million. Net profit climbed to $9.2 million versus $...

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