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Kingtone Wirelessinfo (KONE) Narrows H1 Loss to 49c/Share

June 25, 2014 4:35 PM EDT
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Price: $7.67 --0%

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Kingtone Wirelessinfo (NASDAQ: KONE) reports H114 revs of $3.6 million and net loss of $.49 per share, from revs of $3.0 million and loss of $1.29 per share reported in the same period last year.

"The Company's business is recovering gradually and the Company also took measures to increase the profit including cutting the headcounts to decrease the cost," said Mr. Peng Zhang, Chief Executive Officer. "Although the overall market of software solution is not positive, the Company still achieved the steady business growth. In the future we will continue to take measures to improve our performance and optimize our business model to achieve sustainable growth."

For the fiscal year ended September 30, 2014, management expects revenues of $8.7 million to $11.0 million and net loss of $1.0 million to $1.8 million.



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