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Kandi 2007 Profit Jumps on Higher Sales



By AP
01 April 2008 @ 09:21 am EST

NEW YORK - Kandi Technologies Corp., a Chinese manufacturer of go-carts and other small vehicles, said Tuesday its profit more than quadrupled last year as U.S. sales grew.

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Net income last year rose to $5 million, or 31 cents per share, compared with $1.1 million, or 10 cents per share, in 2006.

Revenue increased to $34.7 million from $14.5 million a year earlier.

Copyright 2008 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

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