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HTC Stays In Black In Q1

Taipei, Taiwan – HTC remained in the black in its first fiscal quarter of 2015 on a 25.4 percent surge in revenues to NT$41.5 billion ($1.34 billion).

For the quarter ending March 31, net profit after taxes came to NT$0.36 billion ($11.6 million) compared to a year-ago loss of NT$1.88 billion ($60.6 million). Net profits after taxes were down slightly from the fourth-quarter’s NT$0.5 billion ($16.1 million), but the company nonetheless posted its fourth consecutive quarter of net profits.

First-quarter operating profit hit NT$0.02 billion ($644,000) compared to a year-ago operating loss of NT$2.05 billion ($66.1 million). Net profit before taxes came to NT$0.51 billion ($16.4 million).

In fiscal 2014, the company turned around its fortunes, posting an operating profit of NT$669 million ($22.5 million) compared to a 2013 operating loss of NT$4 billion, while net profit after taxes hit NT$1.49 billion ($48 million) compared to a 2013 loss of NT$1.33 billion. Sales in 2014 were off 29.6 percent to NT$203.4 billion.

In fiscal 2013, revenues fell 29.6 percent to NT$203.4 billion, operating losses hit NT$4 billion compared to 2012’s operating profit of NT$18.8 billion, and net losses hit NT$1.33 billion compared to 2012’s net profit of NT$17.6 billion.

In 2012, the company posted an operating profit of NT$18.8 billion and a net profit of NT$17.6 billion.

The NT dollar was converted at a rate of NT$1= $0.322.