Hollysys revenues see year-on-year increase

Hollysys, a provider of automation and control technologies in China, has announced the financial results of its fourth quarter ended 30 June 2010, with revenues of $56.4m (£36.1m) representing an increase of 25.9 per cent over $44.8m in the prior-year quarter.

Gross margin was 33.9 per cent, compared with 33.5 per cent in the comparable period last year, while non-GAAP net income rose 69.2 per cent to $10.7m from $6.3m in fourth-quarter 2009.