Highway Holdings Ltd. (HIHO) Posts Solid Q2 FY2011 Results
Highway Holdings Ltd., a China-based manufacturer of various products for blue-chip original equipment manufacturers, today posted its financial results for the second fiscal quarter ended September 30, 2010. The company’s solid performance reflects an overall improved business atmosphere and new business gains. Highway Holdings reported net income for the 2011 fiscal second quarter at $410,000, or $0.11 per diluted share, up from $139,000, or $0.04 per diluted share, reported for the same period last year. Net sales for the second quarter of 2011 increased 50% to $7.8 million compared to $5.2 million reported a year earlier. Net income for the…