Wonder Auto Reports Its Third Quarter 2009 Financial Results

Wonder AutoTechnology, Inc. (Nasdaq: WATG) ("Wonder Auto" or "the Company"), a leading manufacturer of automotive electric parts, suspension products and enginecomponents in China, today announced its financial results for the third quarter ended September 30, 2009.

 

Highlights:

    -- $59.0 million sales revenue for the third quarter of 2009, an increase of 50.2% from the same quarter of last year; $41.0 million organic sales revenue in China, an increase of 24.1% on year-over-year basis excluding acquisition contribution.

 

    -- $6.5 million net income, or $0.24 per share on a basic and diluted basis, for the third quarter of 2009, an increase of 2.4% from the same period of last year;

 

    -- On a non-GAAP basis, net income for the third quarter of fiscal 2009 increased 25.8% to $6.9 million, or $0.26 per share, on a basic and diluted basis, as compared with a non-GAAP net income of $5.5 million, or $0.20 per share, for the third quarter of fiscal 2008. Non-GAAP net income excludes non-cash exchange gain/loss in connection with a loan denominated in euro.