Comtech Group Fourth-Quarter Profit Jumps
biz.yahoo.com
Thursday March 23, 5:14 pm ET
Comtech Group Fourth-Quarter Profit Rises, Offers 2006 Outlook in Line With Analysts Views
NEW YORK (AP) -- Comtech Group Inc., a Chinese designer of mobile handset and telecom equipment, on Thursday said its fourth-quarter profit jumped as sales of its mobile handset, telecommunications-infrastructure equipment and digital consumer-electronic products all rose.
For the quarter ended Dec. 31, profit rose 56 percent to $3.5 million, or 11 cents per share, from $2.3 million, or 9 cents per share, a year earlier. Revenue grew 73 percent to $33.6 million from $19.4 million in 2004.
Results also beat the average analyst earnings estimates of 10 cents per share on revenue of $31.3 million, according to a Thomson Financial poll.
Mobile-handset sales were up 43.9 percent, telecommunications-infrastructures sales were up nearly 41 percent, and digital home-entertainment product sales also grew, the company said.
For 2005, the company's profit rose 44 percent to $10.8 million, or 36 cents per share, from $7.5 million, or 34 cents per share, during the prior year. Revenue was up 42 percent to $107.4 million, from $75.6 million.
The company reiterated its guidance of earnings of at least 50 cents per share in 2006, excluding stock option and other expenses, on sales of $135 million to $140 million |
