07-08 Third Quarter results compared with 06-07 Third Quarter: -- Revenues for the three months ended December 31, 2007 totaled $14,697,000, 31.1% increase from revenues of $11,212,000 for the three months ended December 31, 2006. -- Net income totaled $4,936,000 for the year ended December 31, 2007, increased by 32.3% from $3,732,000 for the three months ended December 31, 2006. -- The Company reported earnings per share of $0.16 for the three months ended December 31, 2007. -- As of December 31. 2007, Cash and equivalent was $15,157,000 as compared to $67,000 as of March 31, 2007.
The revenue from sale of components increased to US$8,133,000 from
Xiaofeng Li, CEO of T-Bay said: "The growth was mainly attributed to more solutions introduced and growth of our existing customers. Most solutions sold very well, especially solutions targeted to the Low-end market. Both revenue and net profit in this quarter exceeded results for the first half of fiscal year."
07-08 Third Quarter Results Compared with 06-07 Third Quarter COMPARATIVE RESULTS For the Three Months Ended 12/30/07 12/30/06 Revenue $14,697,000 $11,212,000 Gross Profit 6,180,000 5,787,000 Net Income 4,936,000 3,732,000 Earnings per share 0.16 0.12 07-08 First Nine Months Results Compared with 06-07 First Nine Months COMPARATIVE RESULTS For the Six Months Ended 9/30/07 9/30/06 Revenue $28,136,000 $25,872,000 Gross Profit 14,334,000 13,421,000 Net Income 9,432,000 8,309,000 Earnings per share 0.31 0.28
About T-Bay Holdings Inc.
T-BAY conducts its mobile phone design business through its 95% owned
subsidiary,
SunPlus develops its mobile phone modules based mainly on the chipset
platform provided by VIA, MTK, SKYWORKS, ANYKA, INFINEON. Historically, our
customers included multinational brand names such as Motorola, NEC, Siemens,
Safe Harbor Statement Under The Private Securities Litigation Reform Act of 1995
The statements in this press release that relate to the Company's expectations with regard to the future impact on the company's results from new products in development are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. The results anticipated by any or all of these forward-looking statements may not occur.
For more information, please contact: Jack Zeng Tel: +86-21-6481-4605 Email: zeng888888@hotmail.com
SOURCE T-Bay Holdings Inc.