TechFaith net revenue down Q3 2013

China TechFaith Wireless Communication Technology Ltd. (NASDAQ: CNTF) reported net revenue of USD29.9m for its third quarter 2013, a decrease of 0.9% compared to USD30.2m in the previous quarter.

Revenue in the third quarter of 2013 from the company´s original developed product segment was USD21.3m compared to USD20.1m in the previous quarter and USD13.3m in the third quarter of 2012. Revenue in the third quarter of 2013 from the company´s brand name phone sales segment was USD8.1m, compared USD8.4m in the previous quarter and USD11.3m in the third quarter of 2012. Revenue from the company´s game segment was USD0.49m compared to USD1.6m in the previous quarter and USD6.9m in the third quarter of 2012.

Gross profit for the third quarter of 2013 was USD4.9m compared to USD3.4m in the previous quarter and USD7.2m in the third quarter of 2012.

Net income for the third quarter of 2013 was USD0.26m or USD0.00 per basic and diluted weighted average outstanding ADS, compared to net loss of USD0.97m or USD0.02 loss per basic and diluted weighted average outstanding ADS in the previous quarter and net income of USD0.88m or USD0.02 per basic and diluted weighted average outstanding ADS in the third quarter of 2012.

TechFaith has three primary businesses. The company is a leading global mobile solutions provider for the global mobile handsets market. The company is a leading developer of specialized mobile phones for differentiated market segments, including the rapidly growing smartphone market targeting wireless mobile phone network operators and end users; the company also serves sports enthusiasts with a tailored line under the Jungle brand and the teen market under licensed brands. For more information, visit www.techfaithwireless.com.

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