SHENZHEN -- SinoHub reported fourth-quarter net income rose 95% to $7.2 million for the period ended Dec. 31.

The company, which designs and manufactures private label cellphones and provides contract electronics assembly services, said overall sales were up 37% to $58.5 million during the period.

EMS sales made up $22.5 million of the firm's fourth-quarter revenue. Sinohub recently began breaking out contract assembly sales from its component and distribution revenue.

For the year, sales rose 53% to $196.7 million, with net income rising 54% to $19.1 million. EMS sales made up $61.2 million, or 31.1% of overall sales, and had gross margins of 18.9%.

"We are pleased with our financial performance during the fourth quarter and full year 2010. We achieved a significant milestone by meeting our 1 million phones production goal as we generated over $60 million in ICM sales from a business which began just over one year ago.  We continue to leverage the information exchange between our two business segments to provide integrated solutions to customers operating in the electronic marketplace," said Harry Cochran, chief executive. "We are extremely enthusiastic about continued growth in our ICM business and expect to produce over 3 million phones in 2011, with a meaningful portion expected to come from sales of higher priced, higher margin smartphones."

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