Marbridge Daily

<- July 22, 2010 ->

Kingtone Q2 2010 Profit Up 16%

Kingtone PR, 7/22/10

Chinese wireless software solutions provider Kingtone Wirelessinfo Solution Holding (Nasdaq: KONE) today announced its unaudited financial results for Q2 2010, with revenue increased 3.2% YoY to USD 2.6 mln from USD 2.5 mln in the prior year period.

Net income increased 16.2% YoY to USD 1.33 mln from USD 1.15 mln in the prior year period.

Revenue from software solutions increased by 276.4% to USD 2.03 mln in the second quarter of fiscal year 2010 compared to USD 0.54 mln in the second quarter of fiscal year 2009, mainly due to the increased number of completed mobile police projects.

Revenue from wireless system solution decreased by 71.4% to USD 0.56 mln in the second quarter of fiscal year 2010 compared to USD 1.97 mln in the prior year period, as the company completed a relatively large project in the prior year period.

Kingtone reaffirms the guidance of total net revenues for the full fiscal year of 2010 in the range of USD 15.6 mln to USD 17.4 mln, as compared to total net revenues of USD 11.2 mln for the full fiscal year of 2009, and net income for the full fiscal year of 2010 in the range of USD 7.6 mln and USD 8.1 mln, as compared to net income of USD 5.3 mln for the full fiscal year of 2009.

To view Kingtone's full earnings report, please click here.

 
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