Once these most recent quarterly results are finalized, they will be run through TheStreet.com Ratings' model and our ratings will be adjusted accordingly. To keep up to date on all of our ratings, visit TheStreet.com Ratings Screener.
On March 9, 2009, China Techfaith Wireless Communication Technology Ltd. (CNTF) reported that its Q4 FY08 earnings dropped 74.5%, hurt by an $880,000 impairment charge on long-lived assets and lower gross margins. Net income for the latest fourth quarter fell to $824,000 or $0.02 per American Depository Share (ADS) from $3.23 million or $0.07 per ADS in Q4 FY07.
Revenue increased 13.5% to $51.86 million from $45.69 million a year ago. Revenue from product sales increased 15.5% to $44.69 million from $38.70 million, while design fees rose 22.6% to $6.52 million from $5.31 million. On the flip side, royalty income decreased 82.9% to $181,000 from $1.06 million, while component sales slipped 20.6% to $465,000 from $586,000 in the prior year's quarter. Of the total component and product sales, smart phones revenue climbed 48.3% to $25.48 million, while feature phone sales slipped 11.2% to $17.88 million. Similarly, revenue from the wireless module and other component sales slipped 3.8% and 17.7% to $1.32 million and $465,000, respectively.Recently, China Techfaith entered into an agreement with QIGI, a Chinese smartphone brand, to launch four new smartphones for China Telecom and China Unicom customers in Q2 FY09. The company also announced the launch of nine new mobile phones designed specifically for the third-generation (3G) network in China along with Aigo, a brand in consumer digital products marketed in China. During FY08, China Techfaith reported net profit of $8.00 million or $0.18 per ADS compared to net loss of $3.27 million or $0.08 per ADS in Q4 FY08. Annual revenue surged 45.6% to $208.85 million from $143.44 million a year ago. Looking forward, the company expects its Q1 FY09 revenue to be in the range of $45.00 million to $49.00 million.
Select the service that is right for you!COMPARE ALL SERVICES
Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.
- Real Money + Doug Kass + 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV