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TEE International 1Q15 Net Profit Surges 77.9%

Shares Investment

TEE International has announced 1Q16 net profit of $2.5 million, a surge of 77.9 percent from the 1Q15 net profit of $1.4 million mainly due to boosted revenue.

Revenue surged 44.2 percent to $61.1 million due to higher revenue recognized during 1Q16 for on-going engineering projects. Despite cost of sales increasing 41.3 percent to $54.8 million, gross profit rose 75.5 percent to $6.3 million.

Despite a rise in expenses across the board, which brought overall operating expenses up by 38.2 percent, the surge in gross profits brought by the rise in revenue was able to offset it, resulting in the massive improvement of the group’s profitability.



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