This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

Zoom Technologies Reports Second Quarter 2012 Results

Second Quarter 2012 Highlights:

  • Revenue increased 71.3% over same quarter last year to $98.6 million from $57.6 million
  • Net income was $0.4 million compared to net income in same quarter last year of $1.5 million and net income of $0.6 million from the first quarter of 2012.
  • Net income in Q2 2012 was lower compared to the same quarter last year because of increased general and administrative expenses contributed by Portables and the increase in non-cash based equity compensation issued for new business initiatives and key employee retention.
  • In Q2 2012 we sold 3,094,000 whole phones with 823,000 units being Leimone brand phones; 173,000 of the Leimone phones were 3G handsets. In Q2 of 2011 we sold 890,000 whole phones with 207,000 units being Leimone brand phones; 158,000 units of Leimone phones were 3G handsets.
  • Sales of our own brand products in Q2 2012 represented $36.0 million or 36.5% of revenues compared to $13.6 million or 23.6% of revenues a year ago.

BEIJING, Aug. 20, 2012 (GLOBE NEWSWIRE) -- Zoom Technologies, Inc. (Nasdaq:ZOOM), a leading designer and manufacturer of mobile phones and consumer electronics, today announced financial results for the second quarter ended June 30, 2012.

For the second quarter of 2012, ZOOM generated net revenues of $98.6 million up 71.3% over $57.6 million for the second quarter 2011. The first half of the year is traditionally the slower period within the seasonality of our business. The increase in revenues in Q2 of 2012 as compared to the same period in 2011 was mainly due to increased emphasis by our sales team on selling whole handsets, especially our own brand Leimone products.  The second quarter revenues were up $7.7 million, or 8.5% from $90.9 million in the first quarter of 2012. Sales of Leimone phones contributed $36.0 million, or 36.5% of our Q2 2012 revenues. We also derived $11.7 million or 11.9% of our revenues from Portables Unlimited LLC.

1 of 3

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
DOW 17,279.74 +13.75 0.08%
S&P 500 2,010.40 -0.96 -0.05%
NASDAQ 4,579.7890 -13.6380 -0.30%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs