China TechFaith Wireless Communication Technology Limited Announces Board Changes; Announces Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015; Provides Earnings Guidance for the Fourth Quarter of 2015
The company announced unaudited consolidated earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported total net revenues of USD 7,586,000 against USD 22,084,000 a year ago. Loss from operations was USD 5,237,000 against USD 4,277,000 a year ago. Loss before income taxes was USD 5,500,000 against USD 4,057,000 a year ago. Net loss attributable to the company was USD 5,377,000 or USD 0.00 per basic and diluted share against USD 4,589,000 or USD 0.01 per basic and diluted share a year ago. Net loss attributable to the company per American Depositary Share was USD 0.10 against USD 0.09 a year ago.
For the nine months, the company reported total net revenues of USD 55,902,000 against USD 72,563,000 a year ago. Loss from operations was USD 9,571,000 against USD 11,000,000 a year ago. Loss before income taxes was USD 10,104,000 against USD 10,242,000 a year ago. Net loss attributable to the company was USD 10,357,000 or USD 0.01 per basic and diluted share against USD 9,567,000 or USD 0.01 per basic and diluted share a year ago. Net loss attributable to the company per American Depositary Share was USD 0.20 against USD 0.18 a year ago.
For the fourth quarter of 2015, the company currently expects its total net revenues for the fourth quarter of 2015 to be in the range of USD 6.0 million to USD 8.0 million. This forecast represents the company's current and preliminary view, which is subject to change.