1/6/2012 11:15:39 AM
HTC reports drop in Q4 profits
HTC has announced its first quarterly drop in new profit for two years but said it expects full year net profit to be up on 2010.
In its unaudited fourth quarter results, which were released this morning (6 January), the Taiwanese manufacturer said fourth quarter net profit after tax was NT$11.0bn (£235m), down 11% on the fourth quarter of 2010. Sales were also down from NT$104.0bn to NT$101.4bn year on year.
However, comparing its 2011 financial year with 2010, it said sales and profit will increase. HTC said unaudited 2011 sales will be NT$465.8bn (£9.95bn), up from NT$278.8bn (£5.95bn) in 2010. Unaudited net income after tax is NT$62.0bn (£1.32bn), up from NT$39.5bn (£843.3m) last year.