this thing is getting ready to take off
Second Quarter Highlights
-- Net revenue increased 78.7% year-over-year to $12.9 million
-- Gross profit increased 38.8% year-over-year to $2.1 million, gross
margin was 16.0%
-- Operating income increased 56.5% year-over-year to $1.6 million
-- Net income increased 111.3% year-over-year to $1.0 million, or $0.02
per fully diluted share
-- Excluding non-cash debt financing expenses, adjusted net income rose
132.7% to $1.4 million, or $0.02 per fully diluted share
-- Successfully completed three construction projects on schedule: phases
one and two of the Tian Fu Garden residential project, phase one of the
Ai Bo Garden residential apartment project and phase two of the
Riverbank Garden Community residential project
-- Secured new construction work with aggregate estimated revenues of RMB
294.2 million ($43 million) and gross profit of $8 million: Ai Bo
Garden Phase Two residential apartment project and the Fu Xing
Committee Bath Center project
