SGOCO reveals unaudited operating results

SGOCO Technology, a distributor, designer and manufacturer of LCD products in China, has announced its unaudited second-quarter operating results for the three months ending on 30 June 2010.

Revenue for the second quarter was $42.9m (£27.4m), an increase of 234.6 per cent from $12.8m in the second quarter of 2009.

Net income for the second quarter of 2010 was $3.8m, compared with a net loss of $400,000 recorded for the same period last year.

Non-GAAP net income, which excludes charges related to warrant derivative liability, was $4.4m, compared with a net loss of $400,000 in the same period in 2009.