QKL Stores Inc. Announces Second Quarter Results (QKLS)

QKL Stores Inc. (

) today announced its financial results for the quarter ended June 30, 2010. Revenue in the second quarter of 2010 increased 29.5% to $66.1 million from $51.0 million in the second quarter of 2009. Gross profit increased 27.8% year over year to $11.6 million, or 17.5% of net sales, from $9.1 million, or 17.8% of net sales, in the prior year period. Net income for the second quarter of 2010 increased to $2.1 million, or $0.05 per diluted share, from a net loss of ($11.5 million), or -$0.55 per diluted share in the second quarter of 2009.