Connect with us

Hi, what are you looking for?


Cirtek income slips

CIRTEK HOLDINGS Philippines Corp. posted an 11.3% decline in its attributable net income to $1.57 million in the first quarter from $1.77 million last year.

The decline came about after it recorded a 13.4% decrease in its top line to $17.11 million in the first three months, from the $19.76 million it booked in the same period in 2022.

“The decrease accounted for was mainly due to the decrease in revenue from radio wave, microwave, millimeter wave (RF/MW/mmW) and semiconductor business,” the company said.

Revenues from RF/MW/mmW and antenna manufacturing business amounted to $2 million, a 61% decline from the $55 million a year ago. The semiconductor business accounted for $8.8 million, a 17% decrease from $10.64 million.

Revenues from the Quintel group, which makes antenna solutions for wireless cellular networks, grew 55% to $6.3 million from $4.1 million previously.

Meanwhile, the cost of sales amounted to $12.42 million, down 10.8% from $13.93 million in the previous year. The decrease was mainly due to lower prices of raw materials, a decrease in depreciation and amortization, lower salaries, and inward freight and duties.

Operating expenses and finance costs were also lower at $2.65 million and $450,818, lower by 13.3% and 55% versus last year’s showing, respectively.

On Monday shares in the company closed unchanged at P2.96 each. — Justine Irish D. Tabile

Your information is secure and your privacy is protected. By opting in you agree to receive emails from us. Remember that you can opt-out any time, we hate spam too!



The rapid advancement of digital technologies has gained momentum to a degree that it transformed almost every aspect of modern life. From enhanced and...


Massive construction activities that are ongoing and upcoming across Eastern, Central, and Western Visayas are further driving demand in the region’s construction industry this...


Amidst the picturesque Dole pineapple plantation, SATNET powered by Kacific bridges the connectivity gap. Have you ever wondered how a leading, remote food processing...


US dollar banknotes are seen in this illustration taken July 17, 2022. — REUTERS By Keisha B. Ta-asan, Reporter PHILIPPINE DOLLAR reserves slipped at...


PHILIPPINE STAR/MICHAEL VARCAS By Luisa Maria Jacinta C. Jocson, Reporter THE PHILIPPINE ECONOMY is likely to grow by 6% this year amid strong domestic...


By Kyle Aristophere T. Atienza, Reporter ECONOMISTS are worried about the alleged failure of Philippine lawmakers to take into account the health of state-owned...

You May Also Like


COVID-19 has had a significant impact on the mental health of Filipinos across different groups all over the archipelago. From frontline workers, parents balancing...


REUTERS By Luz Wendy T. Noble, Reporter The country’s foreign exchange buffers slightly increased as of end-October as the value of the central bank’s...


BW FILE PHOTO GROSS BORROWINGS by the National Government reached P2.6 trillion as of end-September as it continued to raise funds to respond to...


KARASOLAR.COM TENA, Ecuador — Ecuador’s rainforest Achuar people say their ancestors long dreamed of a “fire canoe” or “electric fish” that would let them...

Disclaimer: Respect, its managers, its employees, and assigns (collectively "The Company") do not make any guarantee or warranty about what is advertised above. Information provided by this website is for research purposes only and should not be considered as personalized financial advice. The Company is not affiliated with, nor does it receive compensation from, any specific security. The Company is not registered or licensed by any governing body in any jurisdiction to give investing advice or provide investment recommendation. Any investments recommended here should be taken into consideration only after consulting with your investment advisor and after reviewing the prospectus or financial statements of the company.

Copyright © 2022 Respect Investment. All Rights Reserved.