ZTE Estimates Q1-Q3 2012 Losses to Reach RMB 1.65 Bln
ZTE, 10/14/12
Chinese telecom equipment and terminal manufacturer ZTE (0763.HK; 000063.SZ) has announced its preliminary financial results for the first nine months of 2012, ended September 30. Revenue for the first three quarters of 2012 is expected to increase from the same period of 2011.
ZTE expects to record net loss attributable to shareholders of between RMB 1.65 bln and RMB 1.75 bln in the first nine months of 2012, as compared to a net profit of RMB 1.07 bln for the first nine months of 2011.
The projected loss was mainly attributed to four factors: current global economic and industry trends, the recognition of low-margin contracts in the third quarter, a delay in some projects of overseas clients, and a change in the procurement mode of domestic operators.
ZTE has not yet released its complete financial results for the first nine months of 2012.
Keywords: loss revenue telecom 000063.SZ 0763.HK telecom equipment ZTE fiscal report
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