GMI Technology Inc. (Public, TSEC: 3312) today announced financial results for their 4th quarter and fiscal year 2013. For the quarter ending December 31, 2013 net revenue was a record US$ 154.7 million, an increase of 51% versus the same quarter in 2012, and an increase of 7.8% over the prior quarter. For the same period after-tax profit was a record US$ 1.64 million, an increase of 144% versus the same quarter in 2012, and an increase of 40% over the prior quarter. For the twelve month period ending December 31, 2013 net revenue was a record US$ 526.7 million, an increase of 23% versus 2012. After-tax profit was US$ 4.58 million for the year, an increase of 249% versus 2012. Over the past decade GMI’s net revenues have increased approximately 23% per year, among the leaders in their business segment.

Commenting on the announcement, Mr. Lewis Lo, president of GMI said, “We are very proud of both our fourth quarter and full year 2013 results, with both our sales revenue and net profit exceeding our expectations. This marks our 7th consecutive year of annual sales growth in an often challenging worldwide economic situation. The performance from the first year of operations of GW Electronics were exceptional (GW Electronics is a GMI joint venture in partnership with Willas-Array Electronics that was announced in November 2012). We also added valuable new customer and vendor partnerships during the year, and entered new growth markets. Overall we remain optimistic about GMI’s continued long term business results.”