GrenTech Press Release, 5/20/08
Chinese wireless solutions provider GrenTech (Nasdaq: GRRF) has announced its unaudited financial results for Q1 2008, with net revenues reaching RMB 71.4 mln (USD 10.2 mln), up 149.1% year-on-year.
Net income for the quarter came to RMB 41.5 mln (USD 5.9 mln), down 7.3% YoY.
First quarter revenue from wireless coverage products and services increased by 149.1% YoY to RMB 52.1 mln (USD 7.4 mln). In the same period, revenue from RF products increased by 86.1% YoY, to RMB 19.3 mln
The company estimates Q2 2008 revenues will increase over the Q1 figures, as it has won bids from the two largest Chinese base station manufacturers.
To see the full details of GrenTechs earnings report, please click here.