Westone Downgrades 2012 Profit Forecast
Sohu IT, 11/27/12
In a public filing today, Chengdu-based encryption and security equipment provider Westone Information Industry (002268.SZ) said that it had recently received a memorandum from Office 30 of controlling shareholder China Electronics Technology Group Corporation (CETC) stating that the office will upgrade and replace technical systems for its security and encryption products, in compliance with state policy requirements, requiring a temporary suspension of R&D and production on some of Westone's existing products. Westone's classified integration services for these products will also be affected. The affected services accounted for roughly 30% of Westone's 2011 operating revenues. According to the report, Westone is predicting a YoY drop of 50% to 90% in net profits for 2012.
Keywords: guidance hardware profit security software CETC Westone 002268.SZ
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