Marbridge Daily

<- March 22, 2012 ->

Comba 2011 Profit Down 9%

Comba PR, 3/22/12

Chinese integrated wireless solutions and sub-systems provider Comba Telecom (2342.HK) has announced its audited annual results for the year ended December 31, 2011. Revenue for the year increased by 22.4% YoY to HKD 6.35 bln.

Profit attributable to shareholders was down 9.0% YoY to HKD 659.08 mln.

Revenue generated from domestic mobile operators rose by 21.4% YoY to HKD 5.34 bln, accounting for 84.1% of total revenue. Revenue generated from China Mobile (NYSE: CHL; 0941.HK) increased 32.8% YoY to HKD 3.58 bln. Revenue generated from China Unicom (NYSE: CHU; 0762.HK; 600050.SH) increased 6.6% YoY to HKD 1.33 bln. Revenue from China Telecom (NYSE: CHA; 0728.HK) decreased by 6.0% YoY to HKD 430.00 mln.

Revenue generated from international customers and core equipment manufacturers increased by 23.3% YoY to HKD 850.00 mln, accounting for 13.4% of total revenue, due to strong demand for wireless enhancement solutions from emerging markets.

Revenue generated from wireless enhancement business increased 13.2% YoY to HKD 1.95 bln, and accounted for 30.7% of revenue in 2011. The increase in revenue was mainly contributed by strong demand for the replacement of base transceiver station antennas.

Revenue generated from wireless access business grew 22.6% YoY to HKD 500.0 mln and accounted for 7.8% of revenue in 2011.

Revenue from the antennas and subsystems business rose by 25.1% YoY to HKD 1.80 bln, accounting for 28.2% of total revenue, due in part to the shortening replacement cycles of antennas.

Revenue from services, including installation, network optimization, network upgrade, and after-sales maintenance services, increased by 29.6% YoY to HKD 2.12 bln and accounted for 33.3% of revenue in 201, related to a large increase in data traffic and the growing complexity of network systems.

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

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