November 20, 2013 – SGOCO Group, Ltd. (Nasdaq: SGOC) (“SGOCO” or the “Company”), a company focused on product design, distribution and brand development in the flat-panel display market, today announced its unaudited financial results for the third quarter ended September 30, 2013.
Third Quarter 2013 Comparisons with Third Quarter 2012 - Financial Highlights
· Total revenue increased 65.0% year-over-year to $43.0 million
· Gross profit increased 268.2% year-over-year to $3.5 million, with gross margin at 8.1% as compared to 3.6%
· Operating income increased to $2.4 million as compared to operating loss of $0.8 million, with operating margin at 5.7% as compared to negative 2.9%
· Net income increased to $2.2 million as compared to net loss of $1.1 million, with net margin at 5.0% as compared to negative 4.2%