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NewsGlobe: Financial
ZTE profits up in 2009
Net profit increases 48% year-on-year, company reports
by Samantha Bookman, TelecomEngine Newsdesk
China telecommunications equipment manufacturer ZTE Corporation recorded a net profit for last year of US$359.7 million and a total revenue, based on the PRC's ASBE (Accounting System for Business Enterprises) of about US$8.82 billion, according to its year-end report.
Total revenue increased 36.08% against 2008, the report states, while net profit represented an increase of 48.06% over the previous year. Net cash flow in 2009 from operating activities per share was $0.31. Earnings per share totaled $0.21.
"In 2009, our Group attained significant breakthroughs and growth in the mainstream product of carriers’ network," said Mr. Hou Weigui, ZTE's chairman. "In the mainstream market, we topped the overall ranking for the PRC 3G market during the reporting period, while revenue from Europe and America was growing fast as a percentage of the Group’s sales revenue from international markets."
Mr. Hou cited the company's research and development as a strength, as well as being awarded contracts to build commercial networks outside China for mainstream carriers including CSL, KPN and Telenor.
ZTE held roughly 30 percent of China's 3G equipment market in 2008.
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