QKL Stores Inc. Announces Second Quarter Results (QKLS)

QKL Stores Inc. (QKLS) today announced its financial results for the quarter ended June 30, 2010. Revenue in the second quarter of 2010 increased 29.5% to $66.1 million from $51.0 million in the second quarter of 2009. Gross profit increased 27.8% year over year to $11.6 million, or 17.5% of net sales, from $9.1 million, or 17.8% of net sales, in the prior year period. Net income for the second quarter of 2010 increased to $2.1 million, or $0.05 per diluted share, from a net loss of ($11.5 million), or -$0.55 per diluted share in the second quarter of 2009.