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Jingwei Income Surges 82%

Jingwei International Ltd. posted net income of $3 million for the second quarter, an 82% increase over $1.7 million in the prior year.

The Chinese database marketing services firm reported revenue of $8.8 million for the quarter ended June 30, a 13% increase over $7.7 million last year.

The Shenzhen-based firm said that gross profit increased 109% to $4.9 million from $2.4 million in the prior year.

The gross margin in the quarter was 56% compared to 30% in the prior year. Management attributed this in part to investments made last year as well as an improved product mix.

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