Trek 2000 Intl

[winston]

Vested.

Trek Records Sharp Increase in Half-Year 2010 Net Profits
August 12, 2010

• Net profit after tax rose 138.1% to US$1.3 million
• Revenue grew 42.9% to US$42.4 million
• Gross profit margin improved from 8.4% to 10.8%

SINGAPORE, 12 AUGUST 2010 – Trek 2000 International Ltd (“Trek” or the “Company”)
– the Singapore mainboard-listed engineering solutions provider and inventor of the
ThumbDrive® and its latest invention FluCard® – today announced a jump in half-year net profits to US$1.3 million.

This is an increase of 138.1 percent as compared to the corresponding period last year when it recorded net profits of US$0.5 million. Revenue also grew by 42.9 percent to US$42.4 million from the previous year’s figure of US$29.7 million.

Trek’s focus on higher margin products and solutions helped the company to increase gross profit margins from 8.4 per cent to 10.8 per cent. Licensing revenue also grew by 17.5 percent to US$0.38 million. Subsidiaries acquired in September 2009 also contributed
strongly to its growth by 15.0%.

By business segments, mobile media solutions revenue increased by 21.4 per cent from
US$24.9 million to US$30.2 million.

Despite the challenging economic conditions, the Group’s strong balance sheet enables it to maintain its financial self sufficiency. At the close of 1H FY2010, Trek has approximately US$21.5 million in cash and fixed deposits.

Commenting on the company’s half-year financial performance, Mr Henn Tan, Chairman and CEO of Trek said, “We are extremely delighted to record strong earnings for the first-half of 2010 and are confident that the company will see even greater growth when our FluCard™ is introduced into markets from the fourth quarter of this year.”

In January this year, the Group unveiled its FluCard® solution – a power-packed application that instantly turns photographic or any electronic equipment with ready in-built SD card slots into communication devices to shoot and transmit digital images.

Trek’s FluCard® developments also led to the formation of an Industry Forum chaired by the Company and Toshiba Inc.

Barring any unforeseen circumstances, the Group expects to be profitable for the next half of the year. In addition, Trek’s FluCard® innovation is expected to contribute positively to the business when rolled-out from Q4 FY2010. It is committed to continue its pursuit of R&D and marketing activities to ensure a continual flow of products and solutions to the market.

http://info.sgx.com/webcoranncatth.nsf/ ... penelement

[winston]

Major Shareholders
Henn Tan 35.04%
Toshiba Finance 15.65%
Creative Technology 9.27%

[behappyalways]

A good read.....not vested

http://www.nextinsight.net/index.php?op ... 5&Itemid=1

[kampungboy]

Another Creative Tech in making? Not vested.


Asiasons WFG Research expects Trek’s 2011 profit to jump to more than US$10 m

Who we met: Mr Gurcharan Singh (Group CFO)

Going forward, the growth of the company is expected to be driven by its latest brainchild known as the FluCard, a form factor of the Secure Digital (SD) card.

Presently, while there are cameras or other SD cards with Wi-Fi attributes, we understand from management that these products are only able to transfer data on a limited number of networks.

The FluCard, however, is compatible with all existing digital cameras with SD card slots and has a memory of up to 30 secured networks. Furthermore, there is also an online portal for FluCard users to upload their digital content.

Key takeaways:

1) Financial Review - Trek 2000 reported 2Q10 revenue of US$21.1m (+52% YoY, -0.9% QoQ) while net earnings came in at US$0.8m (+84.5% YoY, +151.3% QoQ) as its higher-margined mobile media solutions business drove growth. However, we are expecting 4Q10 earnings to be way higher than what was seen in 2Q10 as contributions from its FluCard would then be recognised.

2) Industry Review - The IT landscape in which Trek is involved is highly competitive, thus leading to relatively low earnings for Trek in the past two years where net earnings amounted to less than US$1.5m collectively. Margins have been generally low, although we do recognize that this issue is also seen in the company's competitors as well.

Players in this industry are required to come up with their "killer products" should they wish to alter this equation, and Trek believes that its FluCard to set to take up this challenge.

3) Company Review - We surmise that Trek's previous strategy pertaining to its ThumbDrive was not well-executed as the company opted to market this innovative product without any major backing from any MNCs. However, in promoting the FluCard, Trek would be working very closely with major shareholder Toshiba where a consortium of MNCs will be formed to sell this new product. Given the robust backing from this tech heavyweight, we therefore strongly believe that it would be different for Trek this time round as Toshiba will appoint the company as the official OEM for the FluCard while overseeing its IP protection rights along with the consortium.

Our view:

We are expecting market reception for the FluCard to be highly positive and that meaningful contributions from this product should kick in during 4Q10. Therefore, we estimate that FY10 net earnings should be no less than US$4.5m as compared to the US$0.7m that was seen in FY09. For FY11, we believe that net profitability should also more than exceed the US$10m mark as it ramps up its production of the FluCard while demand is expected to be supported by the various camera makers.

[winston]

Not vested

Trek scores another first with i-Ball, world’s smallest portable Wi-Fi remote camera

Fits high quality 2MP camera in a small 30mm body, while allowing wireless viewing of video up to 20 meters

i-Ball showcases the Group’s advanced design capabilities and patented wireless solutions

3 easy steps to use:
1) Turn on i-Ball
2) Connect with most wireless enabled devices
3) Start shooting on the go

http://trek2000.listedcompany.com/newsr ... C12C.1.pdf

[kennynah]

i visited a photography related exhibition at suntec city last weekend and trek was there to promote their
Flucard... a 8GB SD Card that is able to sync photos from Digital SLRs to nearby notebook and between DSLRs of choice, via its own generated wifi cloud.

Apparently, there's no need for an existing "hotspot" wifi for this to occur. so, if you are somewhere remote photographing, you can simply upload your photos from cam to notebook and using a 3G mobile data service, upload those pics to a remote server...

acts as a instant backup of critical shots and free up SD card memory space

but practically, how much energy it consumes of your camera batt, i duno....

and as usual, be very careful about their public relations publications ... according to the staff, they have a europe office, but it is totally unmanned...based in germany...

[winston]

Hi kennynah,

Would you pay the Sin$65 for that Flu Card ? Or is it more expensive than that ?

Thanks and take care,
Winston

[kennynah]

hi W...

they were selling this 8GB SD Card (class 4 equivalent, iirc) for $119... it is very expensive....

for S$119, i can easily buy a 8GB SD Card Class 10 speed...or a Sandisk 8GB SD Card Class 4 for ~S$30

now with Nikon D300s and D7000 which have dual card slots, allowing for single picture to be saved into 2 separate cards, why do i need to wifi transfer pictures from camera to camera...i just take out one of the cards and hand it over...for $119, i can easily buy 4 x 8GB SD Cards..
and going forward, i suspect that most mid ranged DSLRs from canon and certainly nikon will start haing dual slots...

so, trek needs to market this aggressively and quickly to gain recognition....else, their R&D investments will go down the drain...

[winston]

Thanks for your kind review. I'm glad I sold this share into the strength.

[winston]

Not vested

TREK 2000 INTERNATIONAL - Technology firm Trek 2000 International said on Thursday its full year net profit surged over four times to $3 million, up from $651,000 a year earlier, helped by higher revenue from its mobile media solutions business.


Source: Reuters