Update On MaeMode

Update to the posting: Reply To Comments On MaeMode

MaeMode announced its earnings last night.

At first look, the earnings looked interesting.

1. Sales. Improved.
2. Earnings Improved.

However, is the improvement good enough?

As stated in the previous blog posting, Reply To Comments On MaeMode

In 2007 it made 16.218 million.
In 2008 it made 20.418 million.
In 2009 it made 11.793 million.
In 2010 it made 6.940 million.
2011 Q1 it made 0.852 million.
2011 Q2 it made 1.965 million.

Remember back in 2008, it was making 20.4 million per year.

Now, its only making 2.817 million for the first half of current fiscal year. And net profit margins is a razor thin 1.28%.

Total loans to date stands at 324 million and the trade receivables increased to a dizzy 362 million!