SAN DIEGO, CA–(Marketwired – February 17, 2016) – Franklin Wireless Corp. (FKWL), a market leader in broadband data communications including hardware and software solutions for M2M and the IoT (Internet of Things), today announced financial results for the second quarter of fiscal year 2016 ended December 31, 2015.
The Company reported net sales of $20.2 million for the quarter, compared with $12.5 million in net sales for the corresponding period of 2014. The Company also reported net income of approximately $617,000, or $0.06 per basic and diluted share, compared with net income of approximately $424,000, or $0.04 per basic and diluted share, for the same quarter last year.
“I am pleased with the financial results Franklin Wireless posted for the second quarter of our 2016 fiscal year,” said OC Kim, president of Franklin Wireless. “The quarterly sales reported represent solid increases on both a sequential and year-over-year basis. In addition, the previously announced stock repurchase of 130,000 shares completed during the quarter reduces our outstanding common stock shares to 10.4 million.”
The Company’s 10-Q filing for the three month period ending December 31, 2015 is on file with the SEC (www.sec.gov).
About Franklin Wireless
Franklin Wireless Corp. (FKWL) is a global leader in innovative hardware and software products that support machine-to-machine (M2M) applications and the Internet of Things (IoT), as well as intelligent wireless solutions including mobile hotspots, routers and modems. 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.
Franklin Wireless Corp.
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