Hong Kong Highpower Technology Reports Second Quarter 2010 Financial Results

Hong Kong Highpower Technology, Inc. (NASDAQ: HPJ), a developer, manufacturer and marketer of nickel-metal hydride (Ni-MH) and lithium-ion (Li-ion) batteries and related products, today announced financial results for the second quarter ended June 30, 2010.

The press release is quoted as saying:

Recorded $28.9 million in net sales for second quarter 2010, a 88% increase year-over-year, and 43% increase sequentially, Achieved gross profit of $5.4 million for second quarter 2010, compared to $3.1 million in second quarter 2009, Earned net income of $0.12 per diluted share for second quarter 2010, a 71% increase over the second quarter of 2009, Debt-to-capital ratio remained healthy consistent with prior quarter, Formed Springpower International, a research & development unit for advanced high performance battery materials and clean energy materials.

Click here to access the entire press release