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.