Wuhan General Group Inc. Announces Second Quarter Results (WUHN)

Wuhan General Group, Inc. WUHN today reported revised financial results for the second quarter ended June 30, 2010. For the second quarter ended June 30, 2010, total revenue was $22.7 million, up 32.3% from $17.2 million for the same period last year. Wuhan Blower generated 56.5% of total revenues, compared to 58.9% for the same period last year. Wuhan Generating contributed 42.4% of total revenues, compared to 40.4% for the same period last year. Gross profit for the quarter was $4.8 million, up 18.4% from $4.1 million in the second quarter of 2009. Gross margin was 21.3%, down 2.5 percentage points from 23.8% for the same period in 2009. Net income for the second quarter of 2010 was $0.7 million, compared with $18,316 for the same period last year.