Global-Tech announced financial results for Q2 of fiscal 2016

BVI-incorporated holding company Global-Tech Advanced Innovations Inc., engaged into manufacturing and marketing of high-quality products for the communications industry in China and in other countries, reported its financial results for the second quarter of the year ended September 30, 2015. In this period, which is the second quarter of company’s fiscal 2016, net sales were US$20.1mln, as compared to US$21.1mln for the same quarter of fiscal 2015. Net loss for Q2 of fiscal 2016 was US$2.2mln, or US$0.72 per share (US$2.2mln, or US$0.74 per share in the second quarter of fiscal 2015).

For the six month period ended September 30, 2015, net sales were US$35.4mln, as compared to US$45.7mln in the same period of last year. Net loss for the six months was US$3.2mln, or US$1.06 per share, compared to net loss of US$2.5mln, or US$0.83 per share, in the first half of fiscal 2015.

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