Get the free version of Marbridge Daily delivered to your inbox

Click here to subscribe

Telestone Posts Q3 2012 Net Loss of USD 13 Mln

Telestone, 11/19/12

Chinese wireless communication coverage solutions provider Telestone Technologies Corporation (Nasdaq: TSTC) has announced its financial results for the third quarter ended September 30, 2012. Q3 2012 revenues were USD 17.4 mln, a 41.2% decrease YoY from USD 29.6 mln in Q3 2011.

Q3 2012 net loss was USD 13.1 mln, as compared to net income of USD 5.2 mln in the year-ago quarter

Equipment sales decreased 48.5% YoY to USD 5.9 mln from USD 11.4 mln a year ago. Sales of professional services declined 36.7% YoY to USD 11.5 mln, as compared to USD 18.2 mln in the year-ago quarter. Equipment sales declined by more than sales of professional services due to market share changes in a more competitive equipment market.

Sales to non-telecom operators and overseas customers amounted to approximately USD 3.4 mln in the third quarter, or 19.4% of total revenue. Sales of WFDS-enabled products were USD 5.9 mln, accounting for 33.8% of sales in the quarter, representing a decrease of 44.4% YoY from USD 10.6 mln, or 35.7% of sales in the year-ago quarter.

In the third quarter, revenue from China's three major telecom carriers - China Mobile (NYSE: CHL; 0941.HK), China Unicom (NYSE: CHU; 0762.HK; 600050.SH), and China Telecom (NYSE: CHA; 0728.HK) - comprised 80.6% of total quarterly revenue, as compared to 97.4% in the year-ago quarter.

For the full-year 2012, Telestone expects revenues of approximately USD 71-79 mln, as compared to its previous estimate of approximately USD 117 mln.

To view the complete report please see here.

Keywords: Telestone loss revenue wireless TSTC Q3 2012 fiscal report wireless coverage

Feedback

Please note, all fields are required.
None of your personal information will be shared with third parties.

SendingSending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily Premium

Interested in gaining full access to all newsletter articles and the Marbridge Daily archive? To learn more about premium subscription options, including pricing, please:

Click here

Marbridge Consulting RSS Feed

Marbridge Reports