ACL Semiconductors Q3 net income down
By Wilson Joseph
ACL Semiconductors, a provider of memory chip products, has reported a net income of $532,239, or $0.02 per diluted share, in the third quarter of 2008, compared to $538,027, or $0.02 per diluted share, in the same quarter of 2007.
For the third quarter of 2008, revenues increased 17% to $51.3 million, compared to revenues of $44.0 million for the same quarter of 2007.
For the nine months of 2008, revenues increased 39% at $149.5 million, compared to revenues of $107.7 million in the same period of 2007. Net income was $325,886, or $0.01 per diluted share, compared to net income of $429,479, or $0.02 per diluted share, in the same period of 2007.
Alan Yang, CEO of ACL Semiconductors, said: "We are pleased to report another profitable quarter with continued double-digit revenue growth over last year. As of September 30, 2008, we had more than 150 active customers in Hong Kong and Southern China. Our distribution of Samsung products enabled us to significantly increase sales volumes despite downward pricing per unit sales. While most memory chip manufacturers reduced their production capacities in the first half of the year, Samsung's semiconductor business unit showed strength and filled unmet market demand."