Wuhan General Group Inc. Announces Second Quarter Results (WUHN)
August 23, 2010 4:25 PM
Wuhan General Group, Inc. (NASDAQ: WUHN) today reported revised financial results for the second quarter ended June 30, 2010.
For the second quarter ended June 30, 2010, total revenue was $22.7 million, up 32.3% from $17.2 million for the same period last year. Wuhan Blower generated 56.5% of total revenues, compared to 58.9% for the same period last year. Wuhan Generating contributed 42.4% of total revenues, compared to 40.4% for the same period last year.
Gross profit for the quarter was $4.8 million, up 18.4% from $4.1 million in the second quarter of 2009. Gross margin was 21.3%, down 2.5 percentage points from 23.8% for the same period in 2009.
Net income for the second quarter of 2010 was $0.7 million, compared with $18,316 for the same period last year.
