ACL Semiconductors Sales Up 64 Percent in 2nd Quarter to $74 Million
August 17 2009 - 9:00AM
PR Newswire (US)
KOWLOON, Hong Kong, Aug. 17 /PRNewswire-FirstCall/ -- ACL
Semiconductors, Inc. (OTC:ACLO) (BULLETIN BOARD: ACLO) , one of
Asia's largest distributors of memory chip products, today
announced that net sales for the second quarter ended June 30,
2009, increased 64 percent to $74 million and net sales for the
first six months of 2009 increased to $135 million, from $98
million in the same period in 2008, because of strong demands for
its products. Gross profit increased to $2.2 million in the second
quarter, up 58 percent compared to the same period in 2008, and
gross profit for the first six months of the year totaled $4.9
million, up from $1.9 million last year. Net income for the second
quarter of 2009 totaled $901,325, or $0.03 per diluted share,
compared to $395,427 in 2008. Net income for the first six months
of 2009 was $2.01 million or $0.07 per diluted share. The complete
filing is available at http://www.sec.gov/. ACL Semiconductors
distributes electronic components under the "Samsung" brand name to
the Hong Kong and South China markets. The memory chips are used
from everything from a mobile phone, digital camera and laptop
computer to an MP3 player or Wi-Fi product. Safe Harbor: This
information contains forward-looking statements within the meaning
of the Private Securities Litigation Reform Act of 1995. In
particular, when used in the preceding discussion, the words
"plan," "confident that," "believe," "scheduled," "expect," or
"intend to," and similar conditional expressions are intended to
identify forward-looking statements within the meaning of the Act
and are subject to the safe harbor created by the Act. Such
statements are subject to certain risks and uncertainties and
actual results could differ materially from those expressed in any
of the forward-looking statements. Such risks and uncertainties
include, but are not limited to, market conditions, the
availability of components and successful production of the
company's products, general acceptance of the company's products
and technologies, competitive factors, timing, and other risks
described in the company's SEC reports and filings. CONTACT: Paul
Knopick E & E Communications 949/707-5365 DATASOURCE: ACL
Semiconductors, Inc. CONTACT: CONTACT: Paul Knopick of E & E
Communications, +1-949-707-5365, , for ACL Semiconductors, Inc.
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