ZTE reported a net profit of RMB 552 million (US$90.69 million) from January to September, with basic earnings per share of RMB 0.16, in line with the company’s earlier forecast. Revenue dropped 10% to RMB 54.66 billion (US$8.98 billion). ZTE posted a quarterly profit after extraordinary items in the July-September period, ending a negative sequence that began in the second-quarter of 2012. ZTE forecasts the company will post a full-year net profit in 2013, after a loss in 2012.
Some highlights:
- There was positive operational cash flow reported in Q3, following a sequence of negative cash flow in the July-September periods in 2009 to 2012.
- Capital investment by global telecom operators remained sluggish, with spending focused on 4G networks and the construction of broadband networks, and their ancillary transmission networks.
- In the China market, large-scale TD-LTE network construction will drive investment opportunities for solution providers, while the ongoing implementation of the Broadband China strategy would provide policy support for the development of high-speed broadband infrastructure nationally, ZTE is in a strong position to capitalize on these market opportunities by building our competitiveness and working closely in tandem with the operators.
- Internationally, ZTE continued to focus its efforts in major and globally-leading carriers, and gained strong momentum in key sectors such as enterprise and government ICT solutions, services and mobile devices, while consolidating its share of the telecommunications network infrastructure market.
http://wwwen.zte.com.cn/en/press_center/news/201310/t20131022_408739.html