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In the third quarter of this year, Jingtai’s net sales were US$269.5 billion, an increase of 30% from the same period of last year (US$206.8 billion). The gross profit margin in the third quarter was 35.4%, which was higher than the gross margin (35.2%) in the second quarter of this year, but it was lower than the gross profit rate (35.7%) in the same period of last year.
Jingtai’s net income in the third quarter was US$43.4 million, a 27% increase over the same period of last year (US$34.3 million). The net income growth was mainly due to the increase in net sales and profit margins. The diluted earnings per share was 30 cents, an increase from the diluted earnings per share (24 cents) for the same period last year.
Fred Bauer, Chairman and Chief Executive Officer of Jingtai Company stated: “In the third quarter of this year, we set a new record for sales. The demand for auto-dimming mirrors was very strong, with shipments reaching 5.6 million units. Quarterly sales record."
US Jingtai Company released its third quarter financial report on October 20. The report shows that Jingtai’s net sales and net income all increased significantly in the third quarter.