Massage chair maker Osim International said it posted revenue of $117 million in 2Q FY2009, 1% higher than the 2Q FY2008.
Profit after tax was $5 million compared with loss after tax of $6 million in 2Q 2008.
While the consumer market is expected to remain soft, Osim says it is cautiously optimistic of the coming quarters as it will launch a range of new products.
Net cash flow generated from operating activities was $31 million. Cash flow from operations and internal resources was used to finance the investment in fixed assets and net repayment of bank loans.
As at June 30, cash and cash equivalents were $56 million.
Osim added that it still retains 55% equity ownership in Brookstone, which was written down to zero value last year.
My biggest regret all my life is to sell osim.. haiz.. bought 10 at 0.065, got 2222 rights, sold at 0.085, next thing i saw, it went up to 0.15, slowly 0.2,0.3 and finally highest was 0.555... shit ar... now i know what is buy and HOLD it there no matter what!!!! haiz
It is not difficult to see what will happen next. If market conditions are not good, people will continue to take profit and the late-comers will eventually be forced to cut loss as well.
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