Kingtone Wirelessinfo Solution Holding Ltd Reports
Second Fiscal Quarter 2010 Unaudited Financial Results
2QFY10 Revenue Up 3.2% to $2.6 Million from the Prior Year Period
2QFY10 Gross Profits Up 25.1% to $2.0 Million from the Prior Year Period
2QFY10 Basic and Diluted Earnings per share of $0.13
Xi’an, China, July 22, 2010 — Kingtone Wirelessinfo Solution Holding Ltd (NASDAQ: KONE) (“Kingtone” or
the “Company”), a leading China-based software and solutions developer focused on wirelessly enabling
businesses and government agencies to more efficiently manage their operations, today announced unaudited
financial results for the second quarter of fiscal year 2010. The financial statements and other information included
in this press release are prepared primarily in conformity with accounting principles generally accepted in the
United States of America (“U.S. GAAP”). The Company will release the third quarter of fiscal year 2010 in early
August along with a conference call.
Second Quarter Financial Highlights
Year-to-Date Financial Highlights
In December 2009, the Company through one of its subsidiaries, Xi’an Softech Co., Ltd. (“Softech”), entered
into a series of agreements with Xi’an Kingtone Information Technology Co., Ltd. (“Kingtone Information”) for it
to qualify as a Variable Interest Entity (“VIE”). Therefore subsequent financial statements will present Kingtone
Information on a consolidated basis.
On March 23, 2010, the board has reached a resolution to change the fiscal year end of the Company and its
wholly owned subsidiaries, Topsky Info-tech Holdings Pte Ltd. and Softech, from November 30 to September
30 so they have the same fiscal year end as Kingtone Information, the Company’s controlled operating
subsidiary, or VIE.
“We are pleased with our performance during the second quarter” said Mr. Peng Zhang, Chief Executive Officer
of the Company. “We continue to shift our focus from wireless system solutions to software solutions which