HONG KONG (dpa-AFX) - Highway Holdings Limited (HIHO) Thursday announced that its third-quarter revenues and profit increased.
Net sales for the third quarter increased 60% to $4.1 million compared with $2.6 million in the year ago period. Net income for the third quarter increased to $302 thousand or $0.07 per share, compared with $52 thousand or $0.01 per in the year ago period.
CEO Roland Kohl said, 'We ended the calendar year on a positive note, as compared to the year ago period, with revenue increasing about 60% in the third quarter of fiscal year 2024 and diluted EPS increasing 600% over the same period. We are happy to announce such strong results, and encouraged to be off to a good start for the new calendar year 2024. We are cautiously optimistic about the coming year based on several company catalysts that we believe will help us to drive growth, as we focus on the continued recovery of our business and turnaround of our Company.'
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