Qiao Xing Universal Telephone, Inc.'s Net Sales and Gross Profit Increased 18% and 43% Respectively for the First Quarter of 2006.

Publication: PR Newswire

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COPYRIGHT 2006 PR Newswire Association LLC

HUIZHOU, Guangdong, China, June 30 /Xinhua-PRNewswire/ -- Qiao Xing Universal Telephone, Inc. released today, on an un-audited management account basis, certain key financial data for the first quarter of 2006. Compared with the same period of the previous year, in the first quarter of 2006, the Company's net sales and gross profit increased 18% and 43% respectively.



1st Quarter of 1st Quarter of 2005 2006 (US$million) (US$million) Net sales 71.1 84.1 Cost of goods sold 61.7 70.8 Gross profit 9.4 13.3 Operating expenses other than share-based compensation (3.6) (3.9) Share-based compensation -- (7.3) Income from operations 5.8 2.1

Net sales increased 18.4% compared with the same period a year earlier. This increase was mainly attributable to the following:

a. Unit selling price for the 'CECT'-brand mobile phone handsets increased as a result of the 'High-End Product Strategy', implemented by CEC Telecom Co. Ltd. (CECT), one of XING's operating subsidiaries. b....

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