ST Aerospace profits down in 3Q2010, full-year profit expected to be higher

ST Engineering revenue up 10% - financial highlights for the three months ended 30-Sep-2010:

• Revenue*: USD1151 million, +10% year-on-year;
  • ST Aerospace: USD376.0 million, +3%;
• Operating profit: USD121.8 million, +15%;
• Profit before tax: USD123.6 million, +7%;
  • ST Aerospace: USD53.2 million, -2%;
• Net profit: USD100.7 million, +8%;
• Total assets: USD5372 million, +0.8% when compared with the period ended 31-Dec-2009;
• Cash and cash equivalents and short-term investments: USD1260 million;
• Total liabilities: USD4120 million, +2.2% when compared with the period ended 31-Dec-2009. [more]

*Based on the conversion rate at USD1 = SGD1.29245

ST Engineering: "Barring unforeseen circumstances, the Group expects to achieve higher turnover and PBT for FY2010 over FY2009," Tan Pheng Hock, President and CEO. Source: ST Engineering, 09-Nov-2010.

ST Engineering: "For the Aerospace and Electronics sector, FY2010 turnover is expected to be comparable, whilst PBT is expected to be higher than that of FY2009," Company statement. Source: ST Engineering, 09-Nov-2010.