Zoom Technologies Looks Cheap After Earnings, But Is the Risk Worth It?

Ganaxi Small Cap Movers submits:

Zoom Technologies Inc. (ZOOM), a China-based manufacturer of mobile phones and other mobile products, announced its December 2010 quarterly report after the market close yesterday. Earnings at 39 cents came in 6 cents above the street consensus estimate of 33 cents, and revenue at $86.6 million came in below the $90.3 million estimate. For the next March 2011 quarter, the company is projecting lower at $53 million revenue and 17 cents in earnings versus analyst estimates of $73.5 million and 20 cents, but it is reiterating its earlier projection for the current fiscal year ending December 2011, at $320-340 million revenue and $16-17 million in net income or 92-95 cents in earnings.

The key driver for ZOOMs growth has been growth in Chinas robust mobile phone market, which the company says is expected to continue to grow from the current 64% penetration rate. Also, the Chinese nationwide migration to 3G


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