Jerry Liu’s Cirtek posts higher nine-month earnings

A sustained increase in revenues resulted in a slight improvement in Cirtek Holdings Philippines’ bottomline in the first nine months of the year.

Cirtek reported a five percent hike in net income to $8.5 million during the period from $8.1 million a year ago.

Consolidated revenue grew eight percent to $67.8 million, driven primarily by the five percent increase in revenue contribution of Cirtek Electronics Corp. (CEC).

CEC provides turnkey solutions that include package design and development, wafer probing, wafer back grinding, assembly and packaging, final testing of semiconductor devices, and delivery and shipment to its customers’ end users.

Cirtek said revenue contribution from Quintel, an innovator of spectrum and space-efficient base station antennas for wireless networks, amounted to $19.3 million for the first three quarters of the year.

Meanwhile, the semiconductor business contributed $30.5 million in revenues, while the radio frequency/microwave/millimeter wave and antenna manufacturing business generated $20.3 million in revenues.