INNEOVA Holdings First-Half Net Income Rises 12.8% to $274,000 as Gross Margin Expands to 21.1%
SINGAPORE — INNEOVA Holdings Limited (Nasdaq: INEO) on October 15 announced unaudited financial results for the six months ended June 30, 2026 via GlobeNewswire. The Singapore-based company provides parts services and engineering services for industries where uptime and reliability are mission-critical.
First-half revenue was $25.8 million, compared with $30.8 million a year earlier, a decrease of 16.2% driven mainly by lower automotive parts demand in Singapore and Southeast Asia, lower engineering project activity in Singapore, and a $1.5 million decline in Middle East revenue attributable to the war in the region. Gross profit was $5.4 million, compared with $5.9 million, while gross margin expanded to 21.1% from 19.3%. Parts services gross profit increased 5.7% to $5.4 million on 13.4% lower revenue, lifting the segment's gross margin to 22.5% from 18.5%.
Total operating expenses declined 2.1% to $4.7 million, with selling and distribution expenses down 24.8% and general and administrative expenses down 5.0%, partly offset by higher depreciation from new facility leases. Income from operations was $0.7 million, compared with $1.1 million, and interest expense declined 18.6% to $0.6 million. Net income was $274,000, or $0.02 per share, compared with $243,000, or $0.02 per share, an increase of 12.8%. The company's Form 6-K containing the interim financial statements was filed with the U.S. Securities and Exchange Commission on October 14, 2026.
Published by GSM · USA (original Chinese edition)
Photo: 新加坡滨海湾夜景，公司总部所在地（Wikimedia Commons，CC BY-SA 4.0） / Marina Bay, Singapore, the company's home city (Wikimedia Commons, CC BY-SA 4.0)
