Sinohub sales up 40 per cent in second quarter

Chinese electronics company Sinohub has announced its financial results for the second quarter ending on 30 June 2010, posting sales of $43.9m (£28.1m) − an increase of 39.9 per cent from $31.4m in the prior-year quarter.

Gross profit was up 32.9 per cent to $7.6m from $5.7m in the comparable 2009 quarter, while net income fell 9.4 per cent to $2.9m, or $0.1 per diluted share, from $3.2m, or $0.13 per filuted share, in the second quarter of last year.