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Cirtek sees higher sales

Cirtek sees higher sales

Laguna-based outsourced semiconductor assembly and test company Cirtek Holdings Philippines Corp. said Monday it expects first-quarter net income and sales to increase 10 percent.

Cirtek said in a disclosure to the stock exchange sales in the first quarter of 2013 would likely reach $10 million, up 10 percent year-on-year, while net income would hit $900,000 from $805,000 a year ago.

Cirtek said the growth in the first three months of the year would come exclusively from the current business portfolio.

“Consistent with our profit guidance at the start of the year, the company expects 10-12 percent growth from its current business. Sales and profit contribution from acquisition and major supply agreements will come on stream at the end of Q2 or early Q3,” Cirtek said.


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