Shares of Micro-Mechanics (5DD.SI) surged 5.62% in intraday trading, following the company's announcement of impressive financial results for the third quarter of fiscal year 2025 and a planned CEO succession.
The precision tools manufacturer reported a substantial 72.6% year-over-year increase in net profit, reaching $3.18 million for Q3FY2025. This strong performance was underpinned by a 17.3% growth in revenue, which totaled $15.96 million for the quarter. Notably, the company's Wafer Fabrication Equipment (WFE) segment saw a remarkable 95.7% year-on-year increase in sales, contributing 25.4% to the group's overall revenue.
Adding to the positive sentiment, Micro-Mechanics announced a leadership transition, with Kyle Borch set to succeed his father, Chris Borch, as CEO effective July 1, 2025. The current CEO, Chris Borch, will remain with the company as executive chairman. This planned succession, coupled with the strong financial performance, appears to have boosted investor confidence in the company's future prospects.
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