Grentech Records Q2 2009 Net Profit of RMB 13 Mln
GrenTech PR, 8/13/09
Chinese wireless solutions provider GrenTech (Nasdaq: GRRF) has announced its unaudited financial results for Q2 2009, with total revenues reaching RMB 423.2 mln (USD 62.0 mln), up 127.1% year-on-year.
Net income for the quarter came to RMB 13.3 mln (USD 2.0 mln), compared to a net loss of RMB 17.0 mln in Q2 2008.
Revenue for the quarter from wireless coverage products and services increased by 116.7% year-on-year to RMB 340.4 mln (USD 49.8 mln). Revenue from base station RF products increased 182.9% year-on-year to RMB 82.9 mln (USD 12.1 mln).
The company estimates Q3 2009 revenues will range between RMB 380 mln and RMB 420 mln, representing a year-on-year increase of 78.8% to 97.7%.
To view GrenTech's full earnings report, please click here.
Keywords: mobile network equipment coverage profit revenue wireless Q2 2009 GrenTech base station network construction fiscal report