AsiaInfo (ASIA) has announced its second quarter results for the period ended June 30, 2007.
Steve Zhang, AsiaInfo's president and CEO, says, "Industry-wide recognition of AsiaInfo's leading telecom software development capabilities coupled with emerging market opportunities and an in-depth understanding of our customers led to healthy growth during the quarter."
Meeting guidance, net revenue for the second quarter of 2007 was US$26.6 million, an increase of 40% year-over-year, and an increase of 13% sequentially. Net income from continuing operations for the second quarter of 2007 was US$2.5 million, or US$0.06 per basic share. This compares to US$1.1 million or US$0.02 per basic share in the year-ago period, and US$5.0 million or US$0.12 per basic share in the previous quarter.
During the second quarter of 2007, the Lenovo-AsiaInfo business unit contributed approximately 13% to net revenue, including a 15% contribution to software products and solutions revenue and a 2% contribution to service revenue. Lenovo-AsiaInfo contributed 7% to the Company's net revenue in the year-ago period and 9% in the previous quarter.