HTC Post Third Consecutive Quarter Of Declines

By Joseph Palenchar On Aug 3 2012 - 5:28pm

Taoyuan, Taiwan - Revenues and net profit fell for the third consecutive quarter in HTC's fiscal second quarter, when revenues fell 26.8 percent to NT$ 91.04 billion ($3.04 billion) and net income after taxes fell 57.8 percent to NT$ 7.4 billion ($247 million).

For the past three quarters, net income after taxes fell at double-digit percentage rates.

Operating profit fell 57.4 percent to NT$ 8.2 billion ($273.7 million) in the quarter.

The second-quarter declines follow a first quarter in which revenues fell 35.6 percent to NT$65 billion, and net income after taxes fell 70 percent to NT$4.47 billion.

In the fourth quarter of 2011, revenues declined 2.5 percent to NT$101.42 billion, and net income declined 26 percent to NT$10.94 billion.

In commenting on the results, the company said it is "well-positioned" to turn China into a key growth driver and that it has increased its marketing and sales efforts in North America and the EMEA regions.