SGOCO Group Ltd. (SGOC) Posts 220% Earnings Increase for FY 2010
SGOCO Group Ltd., a company focused on building its own brands and retail distribution network in the Chinese flat panel display market, including monitors, TVs, and application specific products, today announced its audited financial and operating results for the full year ended December 31, 2010. Total revenue for 2010 increased 220.2 percent to a record $217.3 million, compared to $67.9 million reported for 2009. The company attributes the strong results primarily to the addition of new customers, backed by increased deals from existing customers, as well as strong growth in exports. Gross margin was 5.1 percent compared to 14.9 percent.…