Telestone Posts Q3 2012 Net Loss of USD 13 Mln
Telestone, 11/19/12
Chinese wireless communication coverage solutions provider Telestone Technologies Corporation (Nasdaq: TSTC) has announced its financial results for the third quarter ended September 30, 2012. Q3 2012 revenues were USD 17.4 mln, a 41.2% decrease YoY from USD 29.6 mln in Q3 2011.
Q3 2012 net loss was USD 13.1 mln, as compared to net income of USD 5.2 mln in the year-ago quarter
Equipment sales decreased 48.5% YoY to USD 5.9 mln from USD 11.4 mln a year ago. Sales of professional services declined 36.7% YoY to USD 11.5 mln, as compared to USD 18.2 mln in the year-ago quarter. Equipment sales declined by more than sales of professional services due to market share changes in a more competitive equipment market.
Sales to non-telecom operators and overseas customers amounted to approximately USD 3.4 mln in the third quarter, or 19.4% of total revenue. Sales of WFDS-enabled products were USD 5.9 mln, accounting for 33.8% of sales in the quarter, representing a decrease of 44.4% YoY from USD 10.6 mln, or 35.7% of sales in the year-ago quarter.
In the third quarter, revenue from China's three major telecom carriers - China Mobile (NYSE: CHL; 0941.HK), China Unicom (NYSE: CHU; 0762.HK; 600050.SH), and China Telecom (NYSE: CHA; 0728.HK) - comprised 80.6% of total quarterly revenue, as compared to 97.4% in the year-ago quarter.
For the full-year 2012, Telestone expects revenues of approximately USD 71-79 mln, as compared to its previous estimate of approximately USD 117 mln.
To view the complete report please see here.
Keywords: Telestone loss revenue wireless TSTC Q3 2012 fiscal report wireless coverage
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