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Micro-Cap on Watch; SinoHub Inc. (SIHI)

By Warren Paige

Shares of SinoHub Inc. (AMEX: SIHI), an electronics company engaged in electronics product manufacturing and sales, and electronic component sales and services, are sinking today.

At last check, SIHI was trading 21.87% lower at $0.250 on above average volume of 144,655.

Recently, SinoHub released its first-quarter financial results. The Shenzhen, China-based company reported total net sales of $61.8 million for the first quarter, representing an increase of 62.7% over the same period in the previous year.

SIHI’s gross profit for the quarter was $1.6 million, down from $7.7 million reported for the same period in 2011. Gross margin fell from 20.3% to 2.6% in the first quarter of 2012.

Net loss for the quarter was $2.2 million, compared with net income of $3.5 million reported in the first quarter of 2011.

Harry Cochran, CEO of SinoHub, said that SIHI’s first-quarter results demonstrate the continuing challenges the company faces.

 

May 30th, 2012 | Tags: | Category: Hot MicroCaps

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All stories in DailyStocks.com are for informational purposes only. This is NOT a stock recommendation. This DailyStocks.com story is a daily light analysis featuring a stock with insider buying. With some caveats, insiders purchase a stock because they think the stock is going up. There are other factors to consider such as size of the transaction relative to their compensation and net worth. Sometimes, insiders might be propping a stock price up for future financing. Sometimes, the amount of insider buying are misread or misreported. Each month, DailyStocks releases a a summary of the stocks with insider buying. Sign up for the free monthly newsletter at DailyStocks.com . About Dailystocks.com: DailyStocks.com is the place where you can find stories about stocks with insider buying, where you can educate yourself about stock market investing, and where you can perform the stock search engine analysis – you enter a stock symbol, and you get a resulting page of stock ticker indexed links so that you do not have to type the stock symbol each time.