Serial System Ltd
SGX:S69
Income Statement
Earnings Waterfall
Serial System Ltd
Revenue
|
759m
USD
|
Cost of Revenue
|
-700.1m
USD
|
Gross Profit
|
58.8m
USD
|
Operating Expenses
|
-63.2m
USD
|
Operating Income
|
-4.4m
USD
|
Other Expenses
|
-10.4m
USD
|
Net Income
|
-14.8m
USD
|
Income Statement
Serial System Ltd
Dec-2011 | Mar-2012 | Jun-2012 | Sep-2012 | Dec-2012 | Mar-2013 | Jun-2013 | Sep-2013 | Dec-2013 | Mar-2014 | Jun-2014 | Sep-2014 | Dec-2014 | Mar-2015 | Jun-2015 | Sep-2015 | Dec-2015 | Mar-2016 | Jun-2016 | Sep-2016 | Dec-2016 | Mar-2017 | Jun-2017 | Sep-2017 | Dec-2017 | Mar-2018 | Jun-2018 | Sep-2018 | Dec-2018 | Mar-2019 | Jun-2019 | Sep-2019 | Dec-2019 | Jun-2020 | Dec-2020 | Jun-2021 | Dec-2021 | Jun-2022 | Dec-2022 | Jun-2023 | Dec-2023 | ||
---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
Revenue | ||||||||||||||||||||||||||||||||||||||||||
Revenue |
614
N/A
|
609
-1%
|
616
+1%
|
639
+4%
|
658
+3%
|
686
+4%
|
719
+5%
|
762
+6%
|
817
+7%
|
858
+5%
|
915
+7%
|
985
+8%
|
1 036
+5%
|
1 086
+5%
|
1 132
+4%
|
1 160
+2%
|
1 222
+5%
|
1 293
+6%
|
1 362
+5%
|
1 387
+2%
|
1 403
+1%
|
1 403
+0%
|
1 398
0%
|
1 447
+3%
|
1 492
+3%
|
1 564
+5%
|
1 599
+2%
|
1 590
-1%
|
1 527
-4%
|
1 352
-11%
|
1 144
-15%
|
943
-18%
|
792
-16%
|
675
-15%
|
731
+8%
|
855
+17%
|
896
+5%
|
920
+3%
|
907
-1%
|
814
-10%
|
759
-7%
|
|
Gross Profit | ||||||||||||||||||||||||||||||||||||||||||
Cost of Revenue |
(556)
|
(552)
|
(557)
|
(579)
|
(596)
|
(621)
|
(651)
|
(691)
|
(744)
|
(781)
|
(834)
|
(900)
|
(947)
|
(993)
|
(1 038)
|
(1 067)
|
(1 131)
|
(1 200)
|
(1 269)
|
(1 292)
|
(1 308)
|
(1 304)
|
(1 298)
|
(1 345)
|
(1 387)
|
(1 452)
|
(1 479)
|
(1 466)
|
(1 408)
|
(1 248)
|
(1 061)
|
(878)
|
(737)
|
(631)
|
(686)
|
(794)
|
(823)
|
(842)
|
(833)
|
(750)
|
(700)
|
|
Gross Profit |
57
N/A
|
57
+0%
|
59
+2%
|
60
+2%
|
63
+4%
|
65
+3%
|
67
+4%
|
71
+5%
|
74
+4%
|
77
+5%
|
81
+5%
|
86
+6%
|
89
+5%
|
93
+4%
|
95
+2%
|
93
-2%
|
90
-3%
|
92
+2%
|
93
+1%
|
95
+2%
|
95
+1%
|
99
+4%
|
100
+1%
|
102
+2%
|
105
+3%
|
113
+7%
|
120
+7%
|
124
+3%
|
119
-4%
|
104
-12%
|
84
-19%
|
65
-22%
|
54
-17%
|
43
-20%
|
46
+6%
|
62
+34%
|
73
+19%
|
78
+7%
|
74
-5%
|
63
-14%
|
59
-7%
|
|
Operating Income | ||||||||||||||||||||||||||||||||||||||||||
Operating Expenses |
(41)
|
(42)
|
(44)
|
(45)
|
(49)
|
(51)
|
(52)
|
(54)
|
(56)
|
(58)
|
(60)
|
(63)
|
(65)
|
(66)
|
(67)
|
(67)
|
(66)
|
(74)
|
(75)
|
(74)
|
(71)
|
(68)
|
(70)
|
(72)
|
(78)
|
(81)
|
(89)
|
(84)
|
(82)
|
(71)
|
(54)
|
(48)
|
(39)
|
(41)
|
(37)
|
(45)
|
(54)
|
(65)
|
(64)
|
(73)
|
(63)
|
|
Selling, General & Administrative |
(35)
|
(37)
|
(38)
|
(39)
|
(40)
|
(41)
|
(42)
|
(44)
|
(48)
|
(50)
|
(52)
|
(54)
|
(55)
|
(56)
|
(58)
|
(58)
|
(58)
|
(60)
|
(60)
|
(61)
|
(64)
|
(61)
|
(61)
|
(62)
|
(66)
|
(70)
|
(73)
|
(76)
|
(73)
|
(66)
|
(62)
|
(55)
|
(48)
|
(41)
|
(42)
|
(49)
|
(54)
|
(56)
|
(55)
|
(54)
|
(51)
|
|
Depreciation & Amortization |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(5)
|
0
|
0
|
0
|
(4)
|
0
|
0
|
0
|
(4)
|
0
|
0
|
0
|
(3)
|
0
|
0
|
0
|
(3)
|
0
|
0
|
0
|
(5)
|
0
|
(4)
|
(1)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
|
Other Operating Expenses |
(6)
|
(6)
|
(7)
|
(7)
|
(9)
|
(10)
|
(10)
|
(10)
|
(8)
|
(8)
|
(8)
|
(9)
|
(5)
|
(11)
|
(9)
|
(8)
|
(4)
|
(14)
|
(15)
|
(14)
|
(3)
|
(7)
|
(9)
|
(10)
|
(10)
|
(11)
|
(16)
|
(7)
|
(6)
|
(4)
|
8
|
7
|
14
|
1
|
9
|
5
|
3
|
(6)
|
(5)
|
(16)
|
(9)
|
|
Operating Income |
16
N/A
|
15
-5%
|
14
-5%
|
15
+4%
|
14
-5%
|
14
+1%
|
16
+10%
|
17
+8%
|
18
+7%
|
19
+6%
|
21
+11%
|
23
+11%
|
25
+6%
|
27
+9%
|
28
+3%
|
26
-5%
|
24
-7%
|
18
-25%
|
18
N/A
|
20
+11%
|
24
+19%
|
31
+28%
|
31
0%
|
30
-1%
|
27
-12%
|
32
+18%
|
31
-1%
|
40
+28%
|
36
-9%
|
33
-9%
|
30
-10%
|
17
-42%
|
15
-13%
|
3
-81%
|
9
+218%
|
17
+87%
|
19
+13%
|
13
-30%
|
10
-24%
|
(10)
N/A
|
(4)
+57%
|
|
Pre-Tax Income | ||||||||||||||||||||||||||||||||||||||||||
Interest Income Expense |
(3)
|
(3)
|
(3)
|
(4)
|
(4)
|
(3)
|
(3)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(5)
|
(6)
|
(8)
|
(11)
|
(12)
|
(13)
|
(13)
|
(11)
|
(9)
|
(10)
|
(10)
|
(9)
|
(12)
|
(12)
|
(14)
|
(20)
|
(15)
|
(14)
|
(11)
|
(4)
|
(5)
|
(3)
|
(3)
|
(5)
|
(5)
|
(14)
|
(11)
|
(11)
|
|
Non-Reccuring Items |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
(0)
|
0
|
0
|
0
|
2
|
0
|
0
|
0
|
(1)
|
0
|
0
|
0
|
(2)
|
0
|
0
|
0
|
8
|
0
|
0
|
0
|
(4)
|
0
|
(4)
|
(0)
|
(0)
|
(0)
|
0
|
1
|
(1)
|
|
Total Other Income |
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
0
|
|
Pre-Tax Income |
13
N/A
|
12
-9%
|
11
-8%
|
11
+3%
|
10
-6%
|
11
+3%
|
12
+13%
|
13
+8%
|
14
+9%
|
15
+6%
|
17
+11%
|
19
+12%
|
21
+10%
|
22
+4%
|
21
-1%
|
19
-13%
|
15
-19%
|
6
-60%
|
5
-10%
|
8
+43%
|
12
+60%
|
22
+76%
|
21
-1%
|
21
-2%
|
16
-25%
|
20
+28%
|
19
-5%
|
26
+37%
|
24
-8%
|
18
-25%
|
16
-11%
|
6
-64%
|
7
+26%
|
(2)
N/A
|
2
N/A
|
14
+757%
|
14
+2%
|
8
-41%
|
(4)
N/A
|
(20)
-399%
|
(16)
+18%
|
|
Net Income | ||||||||||||||||||||||||||||||||||||||||||
Tax Provision |
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(3)
|
(4)
|
(4)
|
(5)
|
(4)
|
(4)
|
(4)
|
(4)
|
(4)
|
(5)
|
(6)
|
(7)
|
(7)
|
(6)
|
(6)
|
(4)
|
(6)
|
(6)
|
(7)
|
(6)
|
(3)
|
(1)
|
0
|
(1)
|
(1)
|
(0)
|
(1)
|
(2)
|
(2)
|
(2)
|
(1)
|
(1)
|
|
Income from Continuing Operations |
11
|
10
|
9
|
9
|
8
|
8
|
10
|
10
|
11
|
12
|
13
|
15
|
16
|
17
|
17
|
15
|
11
|
2
|
0
|
2
|
5
|
15
|
15
|
15
|
12
|
15
|
13
|
19
|
18
|
15
|
15
|
6
|
7
|
(3)
|
1
|
13
|
13
|
7
|
(6)
|
(21)
|
(17)
|
|
Income to Minority Interest |
(0)
|
(0)
|
0
|
0
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
0
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(0)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(1)
|
(2)
|
(2)
|
(3)
|
(2)
|
(2)
|
(1)
|
1
|
1
|
2
|
1
|
1
|
(1)
|
(2)
|
(1)
|
(1)
|
1
|
3
|
2
|
|
Net Income (Common) |
10
N/A
|
9
-10%
|
9
-9%
|
9
+4%
|
8
-9%
|
8
+1%
|
9
+16%
|
10
+7%
|
11
+12%
|
12
+4%
|
13
+11%
|
15
+11%
|
16
+11%
|
17
+6%
|
17
-1%
|
15
-13%
|
11
-25%
|
1
-87%
|
(0)
N/A
|
2
N/A
|
5
+204%
|
14
+203%
|
14
+1%
|
13
-5%
|
10
-28%
|
12
+27%
|
11
-12%
|
18
+67%
|
18
-1%
|
16
-12%
|
16
+2%
|
8
-52%
|
8
+6%
|
(2)
N/A
|
0
N/A
|
11
+3 954%
|
11
+5%
|
6
-49%
|
(5)
N/A
|
(18)
-284%
|
(15)
+16%
|