ZOOM TECHNOLOGIES, INC.
                   Consolidated Statements of Operations
                   In thousands, except per share amounts
                               (Unaudited)
							   

                                                   Three Months Ending
                                                     3/31/03  3/31/02

Net sales                                             $7,539   $8,973
Cost of goods sold                                     5,394    7,183

  Gross profit                                         2,145    1,790

Operating expenses:
  Selling                                              1,362    1,572
  General and administrative                             958      911
  Research and development                               752    1,076

  Total operating expenses                             3,072    3,559

  Operating profit (loss)                               (927)  (1,769)

Other income (expense), net                               87       35

  Income(loss) before income taxes                      (840)  (1,734)

Income tax expense(benefit)                                -    2,013

  Income (loss) before extraordinary gain               (840)  (3,747)

Extraordinary gain                                         -      255

  Net income (loss)                                    $(840) $(3,492)


        Basic and diluted earnings (loss) per share:

  Earnings (loss) per share before extraordinary
   gain                                               $(0.11) $ (0.47)
  Extraordinary gain                                       -     0.03
  Earnings (loss) per share                           $(0.11)  $(0.44)


Weighted average number of shares outstanding:

  Basic and diluted                                    7,853    7,861