Aivtech reveals rise in quarterly financials

Aivtech, a provider of consumer electronics products, has announced that, in the second quarter of 2010, revenue increased 20.5 per cent to $9.5m (£7.8m) from $7.9m in the second quarter of the prior year.

Gross profit increased 11.9 per cent to $2.4m from $2.1m in the year-ago quarter, while operating income increased 20.7 per cent to $1.9m from $1.6m in the year-ago quarter.

Net income was posted as $1.6m, or $0.08 per basic and diluted share, which represented a 13.4 per cent increase from $1.4m, or $0.07 per basic and diluted share, in the year-ago quarter.