Wednesday, October 26, 2011

ZTE Reports 26.5% Revenue Rise in 2011

ZTE Corporation reported operating revenue rose to RMB58.29 billion for the nine months ended September 30, 2011, an increase of 26.5 per cent year-on-year. Net profit attributable to parent company shareholders for the same period was RMB1.07 billion, a year-on-year decline of 21.5 per cent. The decrease is mainly attributable to increased financial expenses. Basic earnings per share for the period were RMB0.31.

Revenue from terminal sales increased 53.4 per cent year-on-year, driven mainly by growth in sales of 3G and CDMA terminals, and GSM handsets and data cards. Revenue attributed to telecommunications software systems, services and other products saw year-on-year growth of 28 per cent as a result of an increase in fixed terminals and services sales. The company also reported year-on-year growth of 15 per cent in carrier network revenue. This increase is attributed to increased sales of ZTE's wireline products, optical communications systems, domestic sales of GSM/UMTS system equipment and international sales of its CDMA system equipment.

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