Riverstone's third-quarter profit up 14.7% QoQ on AI-led cleanroom demand
Riverstone Holdings reported a 14.7% increase in third-quarter net profit to $16.1 million, driven by strong demand for cleanroom gloves from AI and data center clients. Revenue rose 1.1% to $76.7 million, supported by higher shipments of cleanroom and customized healthcare gloves. Gross profit increased 16.5%, improving margins to 30.9%. The company anticipates continued high utilization rates above 80% in Q4 due to ongoing cleanroom orders and has increased net cash to $252.6 million.
REvenue inched up by 1.1% to $76.7m (RM247.5m).
Riverstone Holdings’ third-quarter net profit rose 14.7% quarter on quarter to $16.1m (RM52m), lifted by higher cleanroom glove demand from AI and data centre clients.
Revenue increased 1.1% QoQ to $76.7m (RM247.5m), driven by stronger shipments of cleanroom and customised healthcare gloves. Demand from technology-linked sectors offset slower sales in general healthcare products.
Gross profit rose 16.5% to $23.8m (RM76.6m), lifting margins to 30.9% from 26.8% a year earlier, supported by lower raw material costs and better product mix. Operating expenses were stable, with net cash increasing to $252.6m (RM814.8m).
Newly commissioned cleanroom lines are expected to raise output for technology clients, while capacity reallocation toward customised glove production aims to sustain margins. Riverstone expects utilisation to stay above 80% in Q4 on continued cleanroom orders.
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