Zongshen PEM Power Systems Inc. (ZPP.V), a manufacturer of alternate power motorbikes, Thursday reported a profit for the second quarter compared to a loss in the prior-year period, as revenues rose 321% year over year.
Second quarter net income was C$673.7 thousand or C$0.01 per share, compared to net loss of C$360.4 thousand or C$0.01 per share during the corresponding period of 2007.
Excluding the impact of stock based compensation, amortization, interest income and foreign exchange gain, operating income increased to C$464 thousand during the second quarter.
Quarterly revenues were C$7.1 million, up 321% from C$1.7 million and gross margin rose to 16% from the year-ago quarter.
Zongshen Zuo, Chairman and Chief Executive Officer said, "We have been successful in achieving higher average selling prices and increasing gross margins. Our focus for the remainder of 2008 will be to educate the consumer market in the benefits of ZPP's premium e-bikes which I expect will represent a significant portion of our revenues in 2009."
ZPP is currently trading at C$1.18, down C$0.01 or 0.84%, on a volume of 78 thousand shares on TSX.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.