Exhibit 99.1
 
 
 
SINOHUB, INC. ANNOUNCES 2011 SECOND QUARTER
FINANCIAL RESULTS

SHENZHEN, China, August 15, 2011 – SinoHub, Inc. (“SinoHub” or the “Company”), (NYSE Amex: SIHI), an electronics company whose main growth driver is manufacturing and distributing custom, private-label mobile phones, today announced its unaudited financial results for the second quarter ended June 30, 2011.

SECOND QUARTER 2011 FINANCIAL HIGHLIGHTS

Total net sales declined year-over-year to US$40.9 million in the second quarter of 2011 versus US$43.9 million in the second quarter of 2010.
Gross profit was US$4.4 million compared to US$7.6 million in the same quarter in 2010. Gross margin was 10.8% compared to 17.3% in the second quarter of 2010.
Cash used in operations was US$12.3 million, compared with US$2.0 million in the second quarter of 2010.
Net income was US$1.0 million, down from US$3.4 million in the second quarter of 2010.
Net income per basic and diluted shares were both US$0.03, down from US$0.12 per basic and diluted share, in the second quarter of 2010.

 
 
BUSINESS HIGHLIGHTS:

Commenting on the results, SinoHub’s CEO, Mr. Harry Cochran said, “Our results were impacted this quarter by a significant decline in sales from our ICM segment as our largest customer faced inventory issues relating to phones purchased from another supplier.  As a result, this customer was unable to purchase any phones from SinoHub during the second quarter.  While this is certainly a disappointment in the near-term, it does not in any way change our long-term perspective on the opportunity for SinoHub in the private label, custom design mobile device market.  Our ICM segment has grown rapidly since its launch in April 2010, and our success to date has clearly validated our business model and strategic approach.  In fact, we are confident that the issues faced by our largest customer with another supplier will only strengthen our position when they return to market, as we have established a clear track record of delivering high quality phones with minimal lead times and flexible order quantities.  In addition, our unique joint design process provides our customers with greater flexibility to purchase the right phones for their market, reducing inventory risk.  We believe these competitive advantages will allow us to expand our customer base and thereby minimize sales volatility over the mid- to long-term.

 
 

The following information was filed by Sinohub, Inc. (SIHI) on Monday, August 15, 2011 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

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