China Techfaith Wireless Communication Technology has reported net revenues of $76.9m for the fourth quarter of 2010, an increase of 29% compared to $59.8m for the same quarter previous year.
For the quarter ended 31 December 2010, the company has posted a gross profit of $21.5m, a 124% increase compared to $9.6m for the fourth quarter of 2009.
The company has posted an operating income of $12.1m, compared to $2.9m for the same period last year.
Net income attributable to TechFaith for the fourth quarter of 2010 was $8.9m, compared to net income of $3.1m for the same period last year.
The EPS for the fourth quarter was $0.11 compared to $0.07 for the same quarter previous year.
For the fiscal year 2010, the company’s net revenues, operating income and net income increased to $271.9m, $36.1m, and $27.3m, respectively, from $211.1m, $13.8m and $6.3m for the previous year.
TechFaith mobile business president and chief operating officer Deyou Dong said the company continues to gain traction by supporting strong customer demand for their customised ODP mobile phones, QIGI branded phones for enterprise users and Disney phones for the consumer market.
"We are also seeing growth in diverse markets for our Android based smartphones, including China, India, Latin America, Europe and the United States," Dong said.
