Kingtone Wirelessinfo Solutions (KONE) Stock Skyrocketing on Earnings Results

NEW YORK (TheStreet) -- Shares of Kingtone Wirelessinfo Solutions (KONE) are gaining by 29.91% to $5.69 on very heavy volume in late afternoon trading on Friday, after the China-based mobile enterprise solutions developer and provider reported its earnings results for the first half of the year.

For the first six months of 2015 Kingtone Wirelessinfo said it earned $1.87 per diluted share versus the loss of 49 cents per diluted share it reported for the first half of last year.

The company's revenue jumped to $8.5 million for the beginning half of this year, from the $3.6 million posted for the same period in 2014.

"We are very pleased with our performance," company CEO Peng Zhang said in a statement.

Looking ahead to the 2015 full year, Zhang said the company is expecting net income between $0.5 million and $1 million. Revenue is forecast to be between $12 million and $15 million for the year.

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