May. 15, 2012 (China Knowledge) - Jinpan International Ltd<JST>, a leading designer, manufacturer and distributor of cast resin transformers in China
, earned US$4 million in net profit in the first quarter of this year, reflecting a year-on-year increase of 44.6% from US$2.7 million.
In the reporting period, the Nadaq-listed firm's diluted earnings per American Depositary Share were US$0.24, more than US$0.17 in the first quarter of last year.
Operating revenue for the first quarter of 2012 were US$42.8 million, a 43.1% year-on-year increase from US$29.9 million, primarily due to increased international and domestic transformer sales.
Gross profit increased 43.9% year on year from US$11 million to US$15.8 million with gross margin of 36.9%.
As of Mar. 31, 2012, the company had US$12.6 million in cash, compared with US$24.2 million at the end of last year.
For the whole year 2012, Jinpan International expects its revenue would be in the range of US$262 million to US$273 million, reflecting an increase of 20% to 25% from a year earlier.