Expects third quarter revenues between $55m and $61m
Zoom Technologies has reported total revenues of $42.8m for the second quarter of 2010, a decrease of 19.3% compared to $53.1m for the same quarter prior year.
The company posted operating income of $3.2m for the quarter compared to $2.7m for the same period last year.
The company’s income before income taxes was $3m for the second quarter compared to $2.4m for the same quarter in 2009.
For the quarter ended 30 June 2010, the company posted net income of $2.03m, or $0.17 per share, compared to $1.7m, or $0.86 per share, for the same period last year.
Zoom Technologies chairman and CEO Lei Gu said that the decrease in our second quarter revenue is a reflection of the strength in our consignment business which impacted total revenue figure while leaving net income unaffected.
The company expects net income between $2.7m and $3.3m for the third quarter of 2010 and revenues between $55m and $61m.