GUANGZHOU, CHINA-Despite the worldwide economic downturn, GRG achieved significant growth during the first quarter of 2009. Operating revenue was $ 45.6 million USD for the 1st quarter of 2009, an increase of 21.2% compared with the same period last year. Operating profit for the quarter grew to $13.8 million USD or 4.8 cents per-share, an improvement of 13.9% over the prior year. GRG’s strong first quarter of 2009 followed a successful 2008. Financial results for 2008 showed operating revenue of $176 million USD, an increase of 53.7% over 2007, and operating profit of $43.4 million USD, an increase of 50.8%.
In the “China ATM Market Report 2008", recently released by Financial News , it was reported that GRG’s sales within China exceeded all other manufacturers and that GRG was the leading supplier of ATM’s in the Chinese market in 2008. On a global basis, which has traditionally been dominated by western companies, GRG ranks within the top five ATM producers. During the past three years GRG’s market share has grown significantly both within China and throughout the rest of the world. The growth is a function of strong investment in research and development, commitment to quality products, high levels of customer service, and the sustained demand for high quality self-service banking equipment.