ZTE
ZTE announced its preliminary results on Sunday, registering losses of up to 2.9 billion yuan (about $439 million) for the 2012 financial year, ended December 31, 2012 because of postponed contracts and decreases in revenue from the domestic market terminals. The result on comparing with the same period a year ago, the company made a profit of 2.06 billion yuan (about $312 million).
The company’s operating revenue for the fourth quarter of 2012 decreased by approximately 18% as compared to the same period last year. The overall gross profit margin of the Company for the fourth quarter of 2012 decreased by approximately 11 percentage points as compared to the same period last year. Net profit attributable to shareholders of the listed company was down by approximately 221.35% – 240.77% over last year.
