Rakon reports increased earnings as smartphone, telecomms markets grow

Tablets, smartphones and telecomms infrastructure are growing sectors for GPS components maker

Rakon has reported a profit of $8.5 million for the year to March, compared with a $5.4 million loss last year.

The GPS systems component maker reported pre-tax earnings of $24.8 million for the year, on revenue of $189.3 million.

The result compares with pre-tax earnings of $5.9 million last year, on revenue of $144.5 million.

A key driver of the revenue and earnings growth this year has been global growth in the use of smartphones devices, for which Rakon provides components for GPS systems embedded in the phones and tablets.

For the 2011 year, revenue from the smart wireless device sector was 14 percent, up from five percent last year.

At a half-year results briefing in November, Rakon managing director Brent Robinson said the company had delivered 10 million units for smart wireless devices.

Revenue from the telecomms market was also up from last year, from 33 percent to 38 percent.

The acquisition of French GPS components maker Temex last year also contributed top this year’s result.

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