British Virgin Islands-registered company Nam Tai Electronics, Inc. published its unaudited financial results for the third quarter of the year, ended September 30, 2012. In this period, company’s financial results improved significantly, compared to the third quarter of 2011.
BVI company’s sales increased by 198.0% in the third quarter of 2012, compared to the same quarter of 2011, when sales were US$127.6 million. Gross profit in Q3 2012 was US$34.8 million -an increase of 511.1%, compared to UUS$5.7 million in the third quarter of last year. Gross profit margin was 9.2%, – 4.7% higher than in 2011.
For the three months ended September 30, 2012, operating income of Nam Tai Electronics was US$26.8 million, compared to the operating loss of US$0.9 million in the third quarter of year 2011. Net income was US$24.6 million, or US$0.54 per share (diluted) – that is more than significant increase of 2,142.2%, as compared to last year’s net income of US$1.1 million, or US$0.02 per share.
Nam Tai also continues work on its expansion projects in Wuxi City and Shenzhen City in China.