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ACL Semiconductors Reports 2Q Financials
(Wireless News Via Acquire Media NewsEdge)
ACL Semiconductors announced its financial results for the quarter
ending June 30.
In a release, the company stated that:
- The company reported sales for the quarter ending June 30, of $45.2
million compared with $31.7 million for the second quarter ending June
30, 2007, an increase of 42.6 percent over the comparable period. Gross
profit improved to $1.4 million for the quarterly period an increase of
173.3 percent over the prior year. EBITDA for the second quarter was
$0.7 million versus $0.1 million for the same period in 2007, an
increase of 513.9 percent. The company reported a 326.7 percent
increase in net income for the second quarter to $0.4 million compared
with a loss of $0.2 million for the second quarter of 2007.
In announcing the results, Chairman and CEO Alan Yang said, "The
financial performance for the second quarter is our most successful
second quarter report since we became a publicly traded company in
2003. Our triple digit gain in net profit over the prior years'
quarterly results is a significant accomplishment and not only
underscores the company's improvement in gross and net margins, but
sets a trend of growth and profit that we expect to continue throughout
the rest of the year."
ACL Semiconductors is a principal distributor of memory products
including DRAM and Flash for Samsung Electronics in Hong Kong and
Southern China since 1991. ACL is now one of the largest and most
successful distributors for memory products in Asia. The company has
achieved annual sales in excess of one hundred million dollars since
2004. ACL has been in business in Asia for the past 18 years and,
during that time, has evolved as an integral part of southern China's
development while serving the OEM and ODM manufacturing base for GPS,
mobile phone, UMPC, ePC, Wi-Fi products, laptop computer, server,
router, workstation, desktop computer, PDA, digital camera, MP3 player,
USB drive and other consumer electronics.
((Comments on this story may be sent to newsdesk@closeupmedia.com))
((Distributed on behalf of 10Meters via M2 Communications Ltd -
http://www.m2.com))
((10Meters - http://www.10meters.com))
Copyright ? 2008 Wireless News
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