SOYO Inc. Reports First Quarter 2008 Financial Results

In a press release today, SOYO announced significant growth in their net revenues:

The Company reported first quarter net revenues of $24,795,315 for the three months ending March 31, 2008, an increase of 68.8% compared to $14,691,110 in the first quarter fiscal year 2007. Gross margin for the first quarter 2008 was 3,106,104, as compared to 2,608,196 for the first quarter fiscal year 2007. Income from operations for the three months ending March 31, 2008 was 809,567 as compared to 414,437 for the same period in 2007.

Since the company has doubled its revenues and profits, it would stand to reason that he demand for its stock, and the price buyers will be willing to pay, should follow. I don't expect it will quite double, but I'm hopeful there will be a significant bump, possibly enough to get this one out of the red.