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Technology / Software

Zoom Q2 revenues down 19.3% to $42.8m

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.

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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.


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CBR Staff Writer

CBR Online legacy content.