BVI-registered Global-Tech announced financial results for third quarter of 2012

Global-Tech Advanced Innovations Inc., the BVI-registered holding company engaged in the business segments of home appliances, electronic components and other, announced its financial results for the third quarter of fiscal 2012 – the period ended December 31, 2011.

For the reported period, company’s net sales were US$44.2 million, an increase of approximately 81% – compared to US$24.4 million for the same quarter in fiscal 2011. Net income for the third quarter of fiscal 2012 was US$3.3 million, or US$1.09 per share, as compared to a net loss of US$1.5 million, or US$0.48 per share, in the third quarter of fiscal 2011.

For the nine months ended December 31 2011, net sales of the BVI company were US$103.1 million, up approximately 37% when compared to US$75.2 million in the corresponding nine-month period in fiscal 2011. In the first nine months of fiscal 2012, net sales of home appliances, electronic components and EMS revenues increased approximately 60%, 25% and 5%, respectively, compared to the corresponding period in fiscal 2011. Net income for the first nine months of fiscal 2012 was US$2.9 million, or US$0.97 per share, compared to a net loss of US$1.5 million, or US$0.51 per share, for the same period of fiscal 2011.

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