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ZTE expects Q1 profit, warns for 2012 net loss
2013-01-21 02:05:00| Telecompaper Headlines
(Telecompaper) Chinese equipment maker ZTE expects to report a profit in Q1 and attributes this to its operational review and strategic realignment efforts. The strategic review began last year and sharpened focus on key products and markets and strengthened cash flow management. ZTE is generating net cash inflows from operations as the company recorded higher sales collection, achieved increased profitability on new contracts, applied stringent cost controls, and recognised investment gains. However, ZTE warned that it may post a full-year 2012 net loss of between CNY 2.5 and 2.9 billion, due to delays in the progress of some domestic and international network projects, the recognition of earlier lower-margin contracts, and a drop in revenue for terminal products.
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Category:Telecommunications