GMI Technology Inc. (Public, TPE: 3312) today announced financial results for the 2nd quarter and 1st half of fiscal year 2012. For the three month period ending June 30, 2012 net revenue was a record US$ 108.5 million, an increase of 5% versus the prior quarter and an increase of 2% versus the same period in 2011. For the three month period ending June 30, 2012 after-tax net profit was US$ 475K, an increase of US$ 757K versus the prior quarter. For the six month period ending June 30, 2012 net revenue was US$ 212.0 million, an increase of 3% versus the same period in 2011 and also a record for the company.
Commenting on the announcement, Lewis Lo, president of GMI Technology, said “We are very pleased with the continued growth in our sales revenue both in the last quarter and year to date, especially in light of the continued very challenging worldwide economic situation. We are also encouraged by our good profit growth in the past quarter, as we continue to aggressively focus on maximizing our gross profit and minimizing our expenses through numerous ongoing actions. We continue to see benefits from our growing product portfolio and new customer design wins, especially in mainland China. Despite the continued challenging worldwide economic environment and price pressures in some product segments, we continue to be cautiously optimistic about the 2nd half of 2012 and more importantly with our long term future growth.”