powermatic data systems ltd (PDS) Snapshot

Powermatic Data Systems Ltd. announced the payment of the first and final one-tier tax exempt dividend of 1 cent per ordinary share for the financial year ended 31 March 2013, if approved by the shareholders at the forthcoming Annual General Meeting to be held on 25 July 2013 will be paid on 27 August 2013. The Share Transfer Books and Register of Members of the company will be closed on 13 August 2013 for the purpose of determining shareholders' entitlements to the dividend.

Powermatic Data Systems Ltd. reported unaudited group earnings results for the year ended March 31, 2013. For the year, the company reported revenue of SGD 13,200,000 compared to SGD 18,128,000 a year ago. Profit before income tax was SGD 622,000 compared to SGD 1,812,000 a year ago. Profit, net of tax attributable to owners of the parent was SGD 626,000 or 0.36 cents per fully diluted share compared to SGD 2,126,000 or 1.23 cents per fully diluted share a year ago. Net cash flows used in operating activities were SGD 1,284,000 compared to net cash flows from operating activities of SGD 2,556,000 a year ago. Payments of intangible assets were SGD 49,000 compared to SGD 23,000 a year ago. Purchase of plant and equipment was SGD 179,000 compared to SGD 720,000 a year ago. The decline in revenue was mainly attributable to: Fewer system integration projects realized in fiscal 2013 due mainly to the deferment of capital expenditure; the lingering debt crisis in Europe continued to have a negative impact on the demand for the Group's network products; and increasing competition from the system-on-chip networking solutions. Profit before tax for the year under review declined as compared to the previous year. The main reasons contributed to the decline were: Lower sales which led to lower gross profit for the year; unfavourable foreign exchange fluctuations.

Powermatic Data Systems Ltd.'s Board of Directors announced the appointment of Lee Ellen as Secretary of the company in place of Tan Cher Liang with effect from 23 May 2013.