On December 20, 2007, the BVI-registered company Qiao Xing Universal Telephone, Inc. announced its unaudited financial results for the 3 months ended on September 30, 2007.
The company highlighted that compared to the same period last year, in the 3rd quarter of 2007 net sales and income from operations increased by 22.8% and 9.2% respectively and reached USD 139.5 million and USD 24.2 million for the 3rd quarter.
As to gross profit, in the above-mentioned quarter, revenues from the sale of CECT-branded mobile phone handsets were USD 109.5 million, which is an increase of 28.6% compared to the same period a year earlier. So, in this quarter, gross profits reached USD 32.9 million.
Gross margin saw an increase from 22.5% of revenues for the 3ird quarter of 2006 to 23.6% for the 3ird quarter of 2007.
Basic loss per share of common stock in the above-mentioned quarter was USD 0.04, while basic earnings per share of common stock would have been USD 0.43, had certain non-cash income and expenses been excluded.
According to Chairman of Qiao Xing Universal Telephone, one of China’s largest manufacturers and distributor of telecommunications products in China, Mr. Wu Rui Lin, in the 3rd quarter of 2007 the British Virgin Islands-incorporated company set a record for unit shipments of mobile phone handsets, and sales continue to be strong.