Nam Tai Electronics reports unaudited results for the second quarter of 2012

Nam Tai Electronics announced its unaudited results for the second quarter ended June 30, 2012. In the reported period, sales of the BVI company were US$205.1 million, and increased by 62.8%, as compared to sales of US$126.0 million in the second quarter of 2011. Gross profit reported by the company in the second quarter of 2012 was US$18.9 million – 182.8% increase, as compared to US$6.7 million in the second quarter of 2011. Gross profit margin was 9.2% – an increase of 3.9% from 5.3% in the same quarter of the previous year.

For the second quarter ended June 30, 2012, Nam Tai reported net income in the amount of US$9.4 million, or US$0.21 per diluted share (212.9% increase as compared to the same period of 2011, when company’s net income was US$3.0 million).

The BVI company informed about the factors that improved significantly the company’s results in the second quarter of 2012: the increase of sales by 62.8%, as a result of the company’s Wuxi manufacturing facility producing larger quantities of high-resolution LCD modules for tablets; the US$6.5 million in other income received by the company; discontinuance by the company of certain production orders that have had low sales and poor performance for the past years.

For the second half of 2012, the management of Nam Tai Electronics anticipates the smooth running of tablet LCM business and the commencement of the production of the smartphone LCM orders will cause further increases in sales and further improvement of company’s profit.

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