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VTech Profits Up

Hong Kong – VTech said its profits jumped 18 percent for its financial year ended March 31.

Revenue was up 6 percent vs. last year to $1.5 billion, while profits climbed to $216 million, the company said.

VTech’s telecommunications products group saw revenue increase 4.1 percent to $688 million. According to VTech, the growth was driven by sales gains in Europe, Asia Pacific and emerging markets “where VTech mainly operates an Original Design Manufacturing (ODM) business.”

North America sales fell 7.3 percent to $476 million thanks to a drop in U.S. sales, the company said.

The firm’s traditional electronic learning products division revenue grew 8 percent to $615.7 million, with U.S. sales jumping 3.5 percent to $291 million.