Venture: In-line with consensus and dividend as expected. 4Q Rev at $632.5m -10.3% yoy +8.4% qoq, net profit at $38.0 -29.8% yoy +6.8% qoq. FY11 rev was $2.4b, -9.1% yoy attributed to USD/SGD depreciation of approx 8.0%.
Co expects improved traction with key customers in 2012 and a no. of new products are at the threshold of release although co recognises the uncertainty of the global economy.
Declared 55c div per share. Co now trades at a fwd yield of 7.0%.
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