Wowjoint Holdings Limited Reports Second Quarter 2012 Financial Results
Q2 2012 revenue of $1.4 million in-line with guidance
Order backlog is $17.8 million as of June 30, 2012
Gross margins increased to 32.8% for Q2 2012, an increase of 390 basis points from 28.9% in Q2 2011.
Q3 2012 revenue guidance: $1-2 million
Second quarter Ended June 30, 2012
Revenues for the Company's second quarter ended June 30, 2012 was $1.4 million as compared to $8.4 million in the second quarter of 2011.
Gross profit was $0.4 million compared to $2.4 million for the same period last year. Gross margins increased to 32.8% in the second quarter 2012 from 28.9% in the same period last year.
Operating income was a loss of $0.8 million for the second quarter 2012 compared to operating income of $1.5 million for the second quarter 2011.
Net loss for the second quarter 2012 was $0.9 million, compared to net income of $1.0 million in same period 2011.