SHENZHEN – EMS firm SinoHub Inc. reported second-quarter sales of $43.9 million, up 39.9% year-over-year.
Net income for the quarter was $2.9 million, down 9.4% compared to the second quarter of 2009.

Second-quarter sales for its contract manufacturing segment were $13.3 million. In April, the firm commenced operations at its 77,500 sq. ft. mobile phone manufacturing facility located in the Bao'an district here, and added four SMT lines during the quarter.

For the first six months of 2010, sales were $82.5 million, up 66.8% year-over-year. Net income for the period was $6.4 million, up 23.1% compared to the same period in 2009. Six-month revenues from the firm’s contract manufacturing business totaled $19.7 million.

"We are pleased to report a solid first half of the year, as sales from our new virtual contract manufacturing business exceeded expectations. We produced about 250,000 handsets in the second quarter, up from roughly 200,000 during the first quarter, while our sales pipeline continues to improve. As we bring on additional capacity to support our fast growing VCM business, we expect this segment to contribute meaningfully to top and bottom line growth during the second half of the year," said CEO Harry Cochran.

For full fiscal year 2010, SinoHub reaffirmed revenue guidance of $180 million, representing anticipated year-over-year growth of 40%.

Guidance includes approximately $50 million in anticipated sales from its virtual contract manufacturing business.

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