INNOTEK

InnoTek 1Q’10 Net Profit Soars to S$3.5 Million; Reversing From Loss of S$0.8 Million in 1Q’09 · Revenue of wholly-owned Mansfield Manufacturing Company Ltd. rises 11.9% to S$93.6 million in 1Q’10 from S$83.6 million in 1Q’09 on higher demand for TV components · Directors expect performance in 2Q’10 to better that of 2Q’09 and 1H’10 to better that of 2H’09 as Group continues to focus on improving cost management and operational efficiency.

As some of you expected, Innotek delivered a good set of results, and the stock is flying now at 55 cents, up 4 cents this morning. Innotek must have re-started its share buyback programme. If that is the case, I can only say that this company is consistent, stable and shareholder-friendly.

InnoTek shareholders should be happy. The stock is now 58 cents! And that\'s after pocketing 5 cts in dividend! Was below 50 cents last month. More excitement to come.....

Share buyback has stopped for a while, but its stock price is firming up to 55 cents now. Maybe another dividend coming with half year results - solid one, I am expecting.

8 million shares bought by Gazelle Capital in a married deal. Wonder who the seller is. Anyone has any idea? And how long has he held it? Make money or not? Gazelle is now a substantial shareholder. Seems like a vote of confidence in InnoTek.

To Wai Hung pared down his stake from 7.23% to 3.72%. Transaction price is $0.55. Should have made money afterall just collected his 5cent dividend.