Recon Technology, Ltd. (RCON) Reports Strong Increase in Fiscal 2010 Sales and Net Income
Recon Technology, Ltd. reported a strong increase in sales in fiscal 2010 as the company benefited from increases in business from two large customers. The company also reported an increase in net income compared to fiscal 2009. Recon Technology, Ltd. reported sales of $17.2 million in the fiscal year ending 6/30/2010, up from sales of $11.1 million in fiscal 2009. The company also increased its gross profit margin from 39.5% to 42.2% over the same time frame. Recon Technology, Ltd. said that the large increase in sales was due to higher orders from China Petroleum and Chemical Corporation and the…