SAN DIEGO, CA–(Marketwired – Feb 18, 2015) – Franklin Wireless Corp. (OTCQB: FKWL), the market leader in multi-mode wireless modems for 3G and 4G broadband data communications, today announced financial results for the second quarter of fiscal year 2015 ended December 31, 2014.
The Company reported net sales of $12.5 million for the quarter, compared with $7.5 million in net sales for the corresponding period of 2013. The Company also reported net income of approximately $424,000, or $0.04 per basic and diluted share, compared with net income of approximately $127,000, or $0.02 per basic and diluted share, for the same quarter last year. The increase in net sales was driven primarily by the launch of new products as well as higher sales in EMEA (Europe, the Middle East and Africa) due to timing of orders placed by a carrier customer in this region.
“For the second quarter of fiscal 2015, Franklin Wireless reported $12.5 million in sales, representing a 65% increase compared to the second quarter of fiscal 2014,” said OC Kim, president of Franklin Wireless. “In addition, the Company ended the quarter with cash and cash equivalents of $11.9 million, which is up from $8.2 million at the end of fiscal 2014.”
The Company’s 10-Q filing for the three month period ending December 31, 2014 is on file with the SEC (www.sec.gov).
About Franklin Wireless
Franklin Wireless Corp. (OTCQB: FKWL) is engaged in the design, manufacture and sale of high speed wireless data products including third generation (“3G”) and fourth generation (“4G”) modems, routers and modules. For more information, please visit www.franklinwireless.com.
Safe Harbor Statement:
Certain statements in this press release constitute “forward-looking statements” within the meaning of section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements, expressed or implied by such forward-looking statements.