SAN DIEGO, CA–(Marketwired – May 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 third quarter of fiscal year 2016 ended March 31, 2016.
The Company reported net sales of $14.1 million for the quarter, compared with $10.2 million in net sales for the corresponding period of 2015. The Company also reported net income of approximately $391,000, or $0.04 per basic and diluted share, compared to net income of approximately $18,000 for the same quarter last year.
For the nine months ended March 31, 2016, net sales increased 27% to $46.3 million, compared to $36.3 million for the corresponding period for 2015. Net income for the nine months ended March 31, 2016 was approximately $1.0 million, or $0.10 per basic and diluted share, compared to net income of approximately $725,000, or $0.07 per basic and diluted share, for the corresponding period of 2015.
The Company’s 10-Q filing for the three month period ended March 31, 2016 is on file with the SEC (www.sec.gov).
Franklin Wireless reports stronger quarterly earnings for three months ended March 31, 2007 – This Quarter sales and net income equivalent to the combined total of previous three quarters.