Global-Tech Advanced Innovations Reports Q3 EPS of $(0.48)

Global-Tech Advanced Innovations Inc. GAI today announced its financial results for the fiscal quarter ended December 31, 2010. Net sales for the third quarter of fiscal 2011 were $24.4 million, compared to $25.7 million for the corresponding quarter in fiscal 2010. Net loss for the third quarter of fiscal 2011 was $1.5 million, or $0.48 per share, compared to a net income of $0.7 million, or $0.24 per share, for the third quarter of fiscal 2010.