Macroblock's August Revenues Beefed Up by Urgent Orders for the 2010 World Expo
Spurred by an influx of orders for the 2010 World Expo Shanghai, LED maker Macroblock's revenues surged 30% MoM to $4.26 million in August; the growth momentum is expected to extend through September. Macroblock's third quarter revenues is expected to reach $12 million, a QoQ Growth of 34%, which is far higher than the previous estimate of 10~15% growth released at the investor's conference.
Macroblock recording total revenues of $16.8 million in the first half of 2009, decreased by 12.4% compared to that of the same period of last year. The consolidated gross profit margin reached 42.8%. The net income was $2.1 million with EPS of $0.069.
During the recent investor's conference, Robert Chen, General Manager of Macroblock remarked that there are new product release plans to echo the market opportunities in the LED field – in addition to during the traditional hot season and pending orders from the first half of the year , a series events held in China, such as World Expo 2010 Shanghai, Guangzhou Asian Games 2010, and Oct. 1st China National Day, will further spur demand for LED Display and architectural lighting. Macroblock's third quarter shipment is expected to hit a historic high , and gross margin may bottom out.
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