DALLAS, May 24, 2011 (GLOBE NEWSWIRE) -- MicroStockProfit.com announces an investment report featuring Orsus Xelent Technologies Inc. (AMEX:ORS). The report includes financial, comparative and investment analyses, and industry information you need to know to make an educated investment decision.
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Orsus Xelent Technologies Inc. (ORS) is an emerging designer and manufacturer of award-winning mobile phones for the Asian market, primarily the People's Republic of China (PRC). The Company's business encompasses the design of mobile phones, related digital circuits, and software development, and it is a recognized pioneer in mobile phone integration technology. It introduced the region's first wristwatch-style cellular phone, and it continues to break new ground with state-of-the-art phones that include advanced features such as fingerprint recognition and touch-screen displays.
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In the report, the analyst notes:
"ORS shares skyrocketed over 120% after the China-based cellular phones maker yesterday announced its first-quarter financial results for the quarter ended March 31, 2011."
"ORS reported sales of $3.91 million for the quarter ended March 31, 2011, almost 50% less than the year-ago period's sales of $7.6 million. First-quarter income from operations came in at $342,000. However, mainly due to a non-cash reversal of allowance for bad debt generating other income of $32.02 million in the quarter, the Company posted net income of $32.03 million, or $12.73 per share, a swing from last year's loss of $446,000, or a loss of $(0.18) a share."
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