BEIJING, April 17, 2013 /PRNewswire/ -- SGOCO Group, Ltd. (Nasdaq: SGOC), ("SGOCO" or the "Company"), a company focused on product design, distribution and brand development in the Chinese flat-panel display market, today announced that it will report financial results for its fiscal 2012 fourth quarter and fiscal year ended December 31, 2012 before the market opens on Monday, April 22, 2013. SGOCO's management will host a conference call at 8:30 a.m. Eastern Standard Time/ 8:30 p.m. Beijing Time on Monday, April 22, 2013 to discuss the financial and operational results for the fiscal 2012 fourth quarter and fiscal year ended December 31, 2012. To participate, please dial the following numbers five minutes before the scheduled start time of the call and ask for the SGOCO call. The conference call identification number is: 4610046# 1-877-941-1427 (US Toll-free) 1-480-629-9664 (International) 400-120-0611 ( China Toll-free) The conference call will be broadcast live over the Internet. To listen to the live webcast, please go to http://public.viavid.com/index.php?id=103940 In addition, a recording of the conference call will be accessible within 48 hours via SGOCO's website at: http://www.sgocogroup.com/us/SGOC/irwebsite/index.php?mod=recent&id=13About SGOCO Group, Ltd. SGOCO Group, Ltd. is a company focused on product design, brand development and distribution in the Chinese flat panel display market, including computer monitors, TVs and application specific products. The Company sells its products and services in the Chinese market and abroad. For more information about SGOCO, please visit our investor relations website http://www.sgocogroup.com. For investor and media inquiries, please contact: SGOCO Group, Ltd. Serena Wu Investor Relations Manager Tel: +86-10-8587-0170 ext 815 (China) US: 1- (646) 583-1616 (voice mail) Email: email@example.com SOURCE SGOCO Group, Ltd.
SGOCO Group (SGOC) plunged after the company reported unaudited preliminary results for the fourth quarter of the fiscal year 2013. The company, which designs, distributes and develops flat-panel displays, reported a 30.3% year-over-year decline in revenue to $44.2 million from $63.4 million. Net income plummeted 62.7% year over year to $1.2 million from $3.2 million, while earnings per share also dropped 63.2% to 7 cents from 19 cents. Gross profit fell 28.2% to $3.5 million from $4.9 million in the fourth quarter of 2012. SGOCO said in its statement that the sharp revenue decline comes from the "significant growth" the company had in the fourth quarter of 2012; the 2013 quarter, on the other hand, was "normal."