By Lisa Johnston
New products on display at the American International Toy Fair, held in N
Taoyuan, Taiwan – The pace of HTC’s year-over-year earnings and sales declines quickened in the company’s fiscal third quarter, unaudited financial results show.
The results mark HTC’s fourth consecutive quarter of declining sales and profits.
Year-over-year revenue fell 48.3 percent to NT$70.2 billion ($2.4 billion) following a second-quarter decline of 26.8 percent, a first-quarter decline of 35.6 percent, and a fourth-quarter 2011 decline of 2.5 percent.
Year-over-year net income after taxes fell 79.1 percent to NT$3.9 billion ($133.2 million) following a second-quarter decline of 57.8 percent, a first-quarter decline of 70 percent, and a fourth-quarter decline of 26 percent. Third-quarter operating income fell 75.5 percent to NT$4.9 billion ($167.3 million). Earnings per share were NT$4.7.
Currency conversions were made at a rate of $1= NT$29.3.
HTC’s string of four consecutive quarterly declines follows a series of double- and triple-digit percentage gains in revenues and net profits. In the third quarter of 2011, revenues and net profits after taxes were up 79 percent and 68 percent, respectively. In the second quarter of 2011, revenues and profits were up 104 percent and 103 percent, respectively. And in the first quarter of 2011, revenues and profits were up 175 percent and 197 percent, respectively.
This TWICE webinar, hosted by senior editor Alan Wolf, will take a look at what may be the hottest CE products at retail that will be sold during the all-important fourth quarter. Top technologies, market strategies and industry trends will be discussed with industry analysts and executives.