TechFaith Records Q4 2009 Profit of USD 3 Mln

TechFaith Press Release, 3/16/10

Mobile phone design house China TechFaith Wireless Communication Technology (Nasdaq: CNTF) has announced its unaudited financial results for the fourth quarter and the full year ended December 31, 2009. For the fourth quarter of 2009, TechFaith reported net revenue of USD 59.8 mln, a 13.3% increase compared to USD 52.8 mln in Q3 2009 and a 15.2% increase compared to USD 51.9 mln in Q4 2008. Net income for Q4 2009 was USD 3.1 mln compared to a net loss of USD 3.4 mln in Q3 2009 and net income of USD 0.8 mln in Q4 2008.

For the full year ended December 31, 2009, TechFaith reported total revenue of USD 211.1 mln, a 1.1% increase compared to USD 208.9 mln for the full year 2008. Net income for the full year 2009 was USD 6.3 mln, or USD 0.15 and USD 0.14 per basic and diluted weighted average outstanding ADS, compared to net income of USD 8.0 mln, or USD 0.18 per weighted average outstanding ADS (basic and diluted) for the full year 2008.

TechFaith currently expects revenue to be in the range of USD 60 mln to USD 62 mln for Q1 2010.

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

Keywords: guidance profit revenue wireless Q4 2009 TechFaith CNTF handset fiscal report design house

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