6:31AM Ericsson CEO sees China 3G license awards in first half (ERICY) by Aude Lagorce
BARCELONA (MarketWatch) -- Speaking at 3GSM, the annual meeting of the mobile telecommunications industry in Barcelona, Ericsson Chief Executive Carl Henric Svanberg said he expects China to start handing out third-generation licenses in the first six months of the year. "The bottom line is that they need to be ready for the Olympics," he said. That means the 3G network will have to be up and running in 2007 and that the technology will start being rolled out in 2006. Looking ahead, Svanberg also reiterated his forecast for moderate growth in the mobile infrastructure industry as a whole in 2006. "Western Europe will be flattish, Asia and North America up a bit," he said.
6:21AM Radica Games posts 4th-quarter profit on 5.1% higher sales (RADA) by Robert Daniel
NEW YORK (MarketWatch) -- Radica Games Ltd., (RADA) the Hong Kong developer of electronic games, videogame accessories and high-tech toys, reported that it swung to fourth-quarter profit on 5.1% higher sales. Net income was $3.5 million, or 18 cents a share, versus a loss of $1.6 million, or 9 cents, in the year-earlier period. Excluding a year-earlier charge for impairment of goodwill, earnings were 18 cents against 10 cents. Sales reached $45.7 million from $43.5 million. The electronic-games segment led the sales increase, offset by lower VGA sales as videogame-platform producers are in transition to new models, the company said. Gross-profit margin widened to 41.5% from 35.1%, Radica said. The company's shares fell 4 cents to $9.17 on Friday.
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