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.

KONE Chart KONE data by YCharts

More from Markets

NYSE Trader Expects Blowout Earnings From Alphabet, Amazon and Facebook

NYSE Trader Expects Blowout Earnings From Alphabet, Amazon and Facebook

Don't Panic! The Risk of a Recession This Year Is Low

Don't Panic! The Risk of a Recession This Year Is Low

Even Standing Desk Company Varidesk Is Watching How the Trump Tariffs Play Out

Even Standing Desk Company Varidesk Is Watching How the Trump Tariffs Play Out

State Street Gets Pummeled on Software Deal; Pizza Wars Are Raging -- ICYMI

State Street Gets Pummeled on Software Deal; Pizza Wars Are Raging -- ICYMI

Schlumberger Stock Dips as Investors Ignore Start of 'Earnings Liftoff'

Schlumberger Stock Dips as Investors Ignore Start of 'Earnings Liftoff'