Marbridge Daily

<- March 31, 2010 ->

Comba Telecom 2009 Net Profit Up 148% YoY

Hong Kong Stock Exchange, 3/31/10

Integrated wireless solutions and sub-systems provider Comba Telecom (2342.HK) has announced its unaudited fiscal results for 2009, with revenues up 75.8% YoY to reach HKD 4.44 bln.

Net income attributable to shareholders reached HKD 564.5 mln, up 148.1% YoY.

Revenue generated from sales to China Mobile (NYSE: CHL; 0941.HK) reached HKD 1.86 bln, up 31.4% YoY, and accounted for 41.9% of total revenue compared to 56% in 2008.

Revenue generated from sales to China Unicom (NYSE: CHU; 0762.HK; 600050.SH) rose 248.3% YoY to reach HKD 1.22 bln, accounting for 27.6% of total revenue compared to 13.9% in 2008.

Revenue generated from sales to China Telecom (NYSE: CHA; 0728.HK) increased by 189% YoY to reach HKD 357.73 mln, accounting for 8.1% of total revenue compared to 4.9% in 2008.

Among revenue from the three telecom operators, revenue generated from China's 3G networks rose 1,090.1% YoY to HKD 1.44 bln and accounted for 32.4% of total revenue compared to 4.8% in 2008.

Revenue generated from OEM manufacturers and international customers also increased significantly by 32.8% to HKD 642.54 mln and accounted for 14.5% of total revenue in 2009, compared to 19.2% in 2008.

Revenue generated from wireless enhancement business increased by 37.7% to HKD 1.38 bln and accounted for 31.0% of total revenue, compared to 39.6% in 2008.

Revenue generated from antennas and subsystems business increased significantly by 68.9% to HKD 1.42 bln and accounted for 32.1% of total revenue, compared to 33.4% in 2008. The increase in revenue was mainly due to the increases in base-station antennas for the PRC 3G mobile network build-outs.

Revenue generated from the wireless access business increased by 252.3% to HKD 466.05 mln and accounted for 10.5% of total revenue, compared to 5.2% in 2008.

Revenue from services, including consultation, commissioning, network optimization, project management, and after-sales maintenance services increased significantly by 113.1% to HKD 1.17 bln and accounted for 26.4% of total revenue, compared to 21.8% in 2008.

To see Comba Telecom's full earnings report, please click here.

 
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