Kingtone Wirelessinfo Solution Holding Ltd. (KONE) reported net income of $1.76 million, or $0.18 per diluted share, in the first quarter of fiscal 2010 which ended 12/31/2009. The company earned net income of $1.08 million, or $0.11 per diluted share, in the first quarter of fiscal 2009.
Kingtone Wirelessinfo Solution Holding Ltd. also reported a strong year over year increase in sales in the first quarter of fiscal 2010. The company had sales of $2.9 million compared to $2.1 million in the corresponding quarter in fiscal 2009.
The management of Kingtone Wirelessinfo Solution Holding Ltd. attributed the better results to sales in the company’s Software Solutions segment. The company offered a mobile enterprise application product, which sold particularly well in the emergency response and insurance areas.
Peng Zhang, the CEO of Kingtone Wirelessinfo Solution Holding Ltd., said, “First fiscal quarter results continue to demonstrate our ability to deliver sustained growth and our strong presence in China’s mobile enterprise industry. These encouraging results attest to the growing power of the Kingtone brand and our reputation as a high quality and premium value software developer and provider.”
Kingtone Wirelessinfo Solution Holding Ltd. also provided guidance for the full fiscal 2010 year. The company expects sales to range from $15.6 to $17.4 million, and net income to range from $7.6 million to $8.1 million. Both the low and high end of these ranges represent strong growth from fiscal 2009, when the company reported sales of $11.2 million and net income of $5.3 million.
For more information on the company, go to www.kingtoneinfo.com