Expect China’s ZOOM to zoom
Zoom Technologies made a big acquisition, and recently reported a stellar quarter.
Written by Douglas Estadt
Based in China, Zoom Technologies (ZOOM), is a fast-growing mobile phone company that manufactures, develops and sells electronic and telecommunication products. Having recently acquired Leimone Culture, a new brand of sleek handsets that now offer CCTV streaming content, Zoom is quickly delivering outstanding profits. For the fourth quarter of 2009, they reported :
- Net revenue of $51.82 million, up 31% over 2008; Revenue increases of 135% over last year to $189.06 million
- Net income growth of 121% year over year to $6.24 million
- A price to earnings ratio slightly over 5
- A total of 100,000 proprietary “Leimone” brand phones sold
A profitable 2009 and promising numbers for 2010 indicate long-term success. Zoom has already exceeded expectations for 2010, with reports showing that:
- For the full year 2010, expected net revenue is to be between $240 and $260 million.
- Net income in range of $10.5 million to $11.5 million
- "Leimone" brand phone sales have topped 700,000 units
- A capacity of 10 million units for Electronic Manufacturing Service (EMS) customers
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