From ZSTN’s earnings press release:
Financial highlights for the three months ended September 30, 2009:
- Total revenue increased by 88% year-over-year to US$28.6 million
- Gross profit increased by 82% year-over-year to US$4.8 million; gross profit margin for the third quarter 2009 was 17%
- Operating income was US$4.5 million, an increase of 83% compared to the third quarter of 2008
- Net income was US$3.3 million, an increase of 96% year-over-year compared to the third quarter of 2008
- Net income margin was 11.5%, compared to 11.1% for the third quarter 2008
The Company also recently announced the signing of its first major contract for the Company’s newly launched GPS devices. Designed for both commercial and personal use, ZSTN’s line of GPS devices offer a web-based system which includes real-time GPS tracking and monitoring, WEBGIS platform with maps updated on a daily basis, alternative positioning systems and A-GPS capabilities. In addition to providing the hardware and installation, ZSTN also offers ongoing support services, including access to its 24/7 call center to provide real-time assistance to its customers. By providing both the systems and support, ZSTN is better able to develop long-term relationships with customers and generate recurring revenues beyond the initial product sales.
On October 20, 2009, the Company completed a public offering of its common stock pursuant to which 3,125,000 shares of ZST common stock were sold to the public at a price of $8.00 per share, for gross proceeds of US$25 million.
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