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ZTE swings to loss in Q3

Oct. 26, 2012 (China Knowledge) - ZTE Corp<000063><0763>, the second-largest telecom equipment manufacturer in China, has announced its suffered a net loss of RMB 1.95 billion in the third quarter of this year, compare with a net profit of RMB 299 million in the same period of 2011.

According to a statement filed with Shenzhen Stock Exchange, basic loss per share for the period was RMB 0.57.

From July to September, the telecom equipment manufacturer's operation revenue decreased 13.13% YoY to RMB 18.09 billion.

In the first nine months of this year, ZTE saw its operation revenue amount to RMB 60.73 billion, reflecting a YoY increase of 5.01%. Meanwhile its net loss for the nine-month period totalled RMB 1.7 billion, compared with a net profit of RMB 1.07 billion it realized in the first nine month of last year.

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