Jinpan International Ltd. (JST) Reports 47% Increase in Q2 Net Income
Jinpan International Ltd. (JST), a Chinese manufacturer of cast-resin transformers for wind and electrical power distribution, reported second quarter 2008 financial results today during regular trading hours. Revenues rose to$40.6 million, an increase of 26.7% year-over-year from $32.1 million. Net income rose to $6.0 million, or 74 cents per share, an increase of 47.4% from $4.1 million, or 51 cents per share, in the same period of 2007. No analysts currently cover the stock. “We made excellent progress in our business in the second quarter,” said Zhiyuan Li, Chief Executive Officer of Jinpan. “We achieved sales increases for our core…