JADA.ob
Zitten op berg cash
Shares Outstanding5: 79.98M
Float: 37.61M
Market Cap (intraday)5: 27.19M
Total Debt (mrq): 0.00
Total Cash (mrq): 5.72M
2010 First Six Months Financial Results
Jade Art Group’s revenue for the first six months of 2010 was $8.7 million, an increase of $1.8 million or 26% over last year’s comparable results. Gross profit for the first half of 2010 was $6.6 million, representing a 33% increase over the $5.0 million recorded in the first six months of 2009.
Selling, general and administrative expenses for the six months ended June 30, 2010 were $473,698 compared to last year’s level of $642,869. This decrease of 26% reflects a reduction in promotional costs.
Income before taxes for the first six months of 2010 and 2009 was $6.1 million and $4.3 million, respectively, representing an increase of $1.8 million or 43% for the 2010 period.
As a result, net income was $4.3 million for the six months ended June 30, 2010, an increase of 54% from $2.8 million for the six months ended June 30, 2009. Basic and fully diluted earnings per share in the first half of 2010 was $0.05. Basic and fully diluted earnings per share in the first half of 2009 were $ 0.04 and $0.03, respectively.
Financial Condition
As of June 30, 2010, Jade Art Group had cash and cash equivalents of $5.7 million, up from $147,392 as of December 31, 2009. Current assets and current liabilities as of June 30, 2010, were $12.4 million and $1.9 million, respectively, yielding working capital of $10.5 million.