KUALA LUMPUR (June 14): Genetec Technology Bhd’s current order book-to-date rose to RM149.3 million after the company secured new orders worth RM36.9 million.
In a statement on Thursday, the company said the order book was expected to contribute positively to its earnings for its financial year ending March 31, 2013.
Genetec executive chairman Ron Ortscheid said the current order book of RM149.3 million was about 2.8 times more than its previous order book showed the sustainability of its earnings in the coming quarters.
He said the company saw increased orders from overseas especially from the United States.
Ortscheid said that while Hard Disk Drive (HDD) sector remained its main revenue contributor, the company had clinched orders across several non-HDD sectors, which accounted to approximately 48% of total order book.
"This will provide the Group with a good balance of income stream. Of the RM36.9 million new orders clinched, approximately RM28.1 million was from the HDD sector. The balance of RM8.8 million is from non-HDD sectors namely automotive, food and consumer, semiconductor and Original Equipment Manufacturing (OEM)," he said.