Wireless Xcessories Group Inc. Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2012; Provides Earnings Guidance for the Third Quarter of 2012
August 30, 2012 at 12:15 pm EDT
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Wireless Xcessories Group Inc. announced unaudited earnings results for the second quarter and six months ended June 30, 2012. For the quarter, the company reported the company reported revenue of $9,831,816 compared to $5,358,303 for the same period in fiscal 2011 or an increase of 83.5%. Income from operations was $93,561 against $875 a year ago. Net income was $63,590 or $0.02 per share, compared to net income of $35,341 or $0.01 per share in the same period for 2011.
For the six months, the company reported revenue of $17,853,051 compared to $10,517,536 for the same period in fiscal 2011, or a net increase of 69.8%. Income from operations was $302,744 or $0.08 per share compared to loss from operations of $56,269 or $0.01 per share a year ago. Net income after taxes was $195,500 or $0.05 per share compared to net income of $19,703 or $0.00 per share in 2011.
The company provides earnings guidance for the third quarter of 2012. In the third quarter the company will be introducing its own high quality brand UMA, Upwardly Mobile Accessories', and expects this to help to sustain its growth and improve profit margins.
Wireless Xcessories Group, Inc. designs, manufactures and distributes accessories for cellular phones. The Company offers around 3,500 items that include batteries, hands free devices, car and travel chargers, as well as carrying cases. The Company provides accessory solutions to the wireless retail channel. The Company stocks a range of phone parts for Apple and Samsung devices, such as Apple iPhone 4, 4S, 5, 5S, 5C, iPad 2, 3, 4, iPad Mini, iPad Air, Samsung Galaxy S3, Galaxy S4, Galaxy S5, Note 2 and Note 3. The Company carries a variety of replacement parts, such as full liquid-crystal display (LCD) assemblies, including small parts, Samsung original equipment manufacturer (OEM) LCDs, LCD/digitizer/glass assemblies, tempered glass, speakers, buttons, front/rear cameras, charging docks and audio ports. The Company sells products to dealers and distributors through an in-house sales force and directly from its Website.
Wireless Xcessories Group Inc. Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2012; Provides Earnings Guidance for the Third Quarter of 2012