Second Quarter 2015 Highlights
- Net sales were $109.2 million, compared to $115.5 million in the second quarter of 2014;
- Gross margin was 20.0%, compared to 18.7% in the second quarter of 2014;
- Operating margin was 7.6%, compared to 14.3% in the second quarter of 2014. Excluding a one-time gain on the sale of land use rights (non-GAAP measurement), the operating margin would have been 7.8% in the second quarter of 2014;
- Net income attributable to parent company's common shareholders was $7.7 million, or diluted earnings per share of $0.24, compared to net income attributable to parent company's common shareholders of $11.0 million, or diluted earnings per share of $0.39, in the second quarter of 2014. Excluding the one-time gain on the sale of land use rights, net income and diluted earnings per share would have been$5.9 million and $0.21 respectively in the second quarter of 2014;
- Cash, cash equivalents and short-term investments were $108.6 million and $109.5 million as of June 30, 2015 and December 31, 2014, respectively.