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Zoom Technologies Reports Second Quarter 2012 Results

Stocks in this article: ZOOM

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.

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