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Recently, Jingtai Company of the United States announced its financial reports for the fourth quarter of 2011 and the whole year of 2011.
In the fourth quarter of 2011, Jingtai’s sales were US$260 million, an increase of 17% year-on-year; its profit was US$40.5 million (28 points per share), and its profit for the same period of 2010 was US$36.9 million (26 cents per share).
For the whole year of 2011, Jingtai’s sales amounted to US$1 billion, up 25% year-on-year; its net profit was US$165 million (US$1.14 per share), and its 2010 net profit was US$138 million (98 cents per share).
Jingtai Company stated that the profit for the fourth quarter of 2011 has increased compared with the same period of 2010, but it has not reached the company's expected target, mainly due to the decrease in overseas shipments. In addition, Jingtai's gross profit margin in the fourth quarter of 2011 decreased from 35.8% in the same period in 2010 to 34.7%.
About Jingtai:
Established in 1974, Jingtai Company is a leading supplier of automatic anti-glare rearview mirrors and camera driving assistance systems for the global automotive industry. Headquartered in Zeeland, Michigan, this international company develops, manufactures and sells automotive and automotive anti-glare rearview mirrors. More than 50% of the interior rearview mirrors sold by Jingtai are equipped with advanced electronic functions. More than 98% of the company's net sales come from automatic anti-glare mirrors sold to almost all major car manufacturers around the world.
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