HTC Sales Off, CMO Ho Resigns - Twice

HTC Sales Off, CMO Ho Resigns

Sales fall in Q3 by 11.2% and for YTD by12.8%
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Taipei, Taiwan — HTC chief marketing officer Benjamin Ho resigned as the company posted a September 7.9 percent sales decline that helped drag down third-quarter sales by 11.2 percent to NT$41.9 billion ($1.37 billion).

For the year to date, HTC sales were off 12.8 percent to NT$140 billion ($4.6 billion.)

Ho took office in January 2013. No replacement has been named.

Despite the sales contraction, the company remained profitable, though barely, for the second consecutive quarter, though profits were down considerably from the second quarter.

Unaudited consolidated operating profits were NT$0.16 billion ($5.3 million) compared to a year-ago loss of NT$3.5 billion.

Net profit before tax was NT$0.64 billion ($21 million), compared to a year-ago net loss before taxes of NT$2.97 billion. Net profit after taxes was NT$0.64 billion ($21 million), compared to a year-ago loss of NT$2.97 billion.

In the second quarter, HTC returned to profitability when it posted an operating profit of NT$2.4 billion, reversing three consecutive quarters of operating losses. The first quarter’s operating loss was NT$2 billion.

Second-quarter net profit after taxes hit NT$2.3 billion, reversing a first-quarter net loss of NT$1.88 billion.

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