DALLAS, March 11, 2010 (GLOBE NEWSWIRE) -- Please note that in a press release issued yesterday by BeaconEquity, the stated third-quarter financials pertain to Zoom Telephonics, which spun off from former parent company Zoom Technologies in connection with a merger September 22, 2009, rather than Zoom Technologies, as implied. The corrected information is below.
BeaconEquity.com announces an investment report featuring Zoom Technologies Inc. (Nasdaq:ZOOM). The report includes financial, comparative and investment analyses, and pertinent industry information you need to know to make an educated investment decision.
The full report is available at: http://www.beaconequity.com/i/ZOOM
Zoom Technologies Inc. (ZOOM), through its wholly owned holding company subsidiaries, Gold Lion Holding Limited, owns 51.03% of TCB Digital and 100% of Profit Harvest Corporation Ltd. ZOOM is comprised of the businesses of TCB Digital, Jiangsu Leimone Electronics Co. Ltd. and Profit Harvest. TCB Digital and Jiangsu Leimone manufacture, research and develop, and sell electronic components for third generation mobile phones, wireless communication circuitry, global positioning system (GPS) equipment, and related software products.
In the report the analyst notes:
"For the third quarter of 2009, ZOOM reported net revenue of $55.29 million, up 204% over $18.16 million for the third quarter 2008, and up 4.06% sequentially from $53.13 million in the second quarter 2009. Net income for the third quarter of 2009 was $1.73 million as compared to net income of $0.73 million for the third quarter of 2008. The Company attributes revenue growth to strong demand from its EMS customers and healthy macroeconomic conditions in China.
"The Company recently increased its full-year 2009 revenue guidance to between $185 million and $195 million and net income to between $6.0 million and $6.2 million, as compared to previous guidance of between $145 million and $155 million in revenue and between $5.9 million and $6.1 million in net income."
To read the entire report visit: http://www.beaconequity.com/i/ZOOM
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