ZTE nine-month net profit rises 132% as operations strengthen

24th October 2013 | By Mouseworld Now Correspondent |

New Delhi, India, October 24, 2013: ZTE Corporation (ZTE), a global provider of telecommunications equipment, network solutions and mobile devices, reported nine-month net profit increased 132% from a year earlier, as the company executed its operational strategy to improve cash flow and raise profitability.

Net profit attributable to shareholders was RMB 552 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. 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.

ZTE exercised stringent control over selling, general and administrative expenses, resulting in strong improvement in cash flow in the third-quarter. The positive operational cash flow reported in the third quarter followed a sequence of negative cash flow in the July-September periods in 2009 to 2012.

During the reporting period, capital investment by operators in the global telecommunications industry remained sluggish, with spending focused on 4G networks and the construction of broadband networks, and their ancillary transmission networks. There was also progress in the the development of emerging sectors such as cloud computing and the Internet of Things.

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.

 

© Mouseworld Now News Service

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