TechFaith Q3 2012 Profit Down 71% YoY
TechFaith, 11/21/12
Mobile phone solutions provider and mobile and online game developer China TechFaith Wireless Communication Technology (Nasdaq: CNTF) has announced its financial results for the three months ended September 30, 2012. Q3 2012 revenue was USD 31.5 mln, down 2.8% QoQ from USD 32.4 mln in the second quarter of 2012 and down 60.9% YoY from USD 80.6 mln in the third quarter of 2011.
Net income attributed to TechFaith was USD 1.08 mln, down 70.6% YoY from USD 3.67 mln in the corresponding period of 2011.
Q3 2012 revenues from the company's original developed products (ODP) segment, referring to sales of products designed by TechFaith, including revenue from both product sales and handset design, was USD 13.31 mln, down 74.6% YoY from USD 52.35 mln in Q3 2011.
Q3 2012 revenues from the company's brand name phone sales segment, which includes revenue from selling phones under licensed brands or brands owned by TechFaith subsidiary Qigi Technology, were USD 11.33 mln, down 34.0% YoY from USD 17.17 mln in Q3 2011.
Q3 2012 revenue from TechFaith's online and mobile games segment was USD 6.91 mln, down 37.9% YoY from USD 11.13 mln in Q3 2011.
TechFaith currently expects total revenue for the fourth quarter of 2012 to be in the range of USD 30.0 mln to USD 35.0 mln.
To view the complete report please see here.
Keywords: guidance profit revenue wireless TechFaith CNTF Q3 2012 online gaming fiscal report mobile gaming design house handset
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