Ellipsiz: 1Q Rev at $44.6m, +39%yoy, +2.4%qoq. Net profit to owners was $3.5m compared to a loss for the same period in 09. 1Q earnings were fell by 38.8% due to year-end refunds for tax losses and forex losses compared to last quarter. Earnings were also boosted by a one time gain of 1.7m on disposal of property. Gross margins dropped slightly 23.1% compared to 24.5% a quarter ago...
Mgmt remains cautiously optimistic of future growth due to possible further weakening of USD and slowdown of inventory replenishment by customers.
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