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November 23, 2010

TechFaith Q3 net revenue up 30%

Posts operating income of $9m in Q3

By CBR Staff Writer

China Techfaith Wireless Communication Technology has reported net revenues of $68.6m for the third quarter of 2010, an increase of 30% compared to $52.8m for the same quarter previous year.

For the quarter ended 30 September 2010, the company has posted a gross profit of $16.4m, a 59% increase compared to $10.3m for the third quarter of 2009.

The company has posted an operating income of $9m, compared to $5.6m for the same period last year.

Net income attributable to TechFaith for the third quarter of 2010 was $4.3m, compared to net loss of $3.4m for the same period last year.

The EPS for the third quarter was $0.01 compared to a loss of $0.01 for the same quarter previous year.

TechFaith mobile business president and chief operating officer Deyou Dong said they expect further sequential growth based on the strength of their core ODP, branding and expanding gaming business, with increased business momentum in 2011.

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