Huami Corporation (HMI) Reports Q4 EPS of $0.33, Revenues Beat

Huami Corporation (NYSE: HMI) reported Q4 EPS of $0.33. Revenue for the quarter came in at $178.1 million versus the consensus estimate of $159.27 million.

"We are very proud to conclude the year of 2018 with strong business performance as we continue to strengthen our leadership position in the global smart wearables industry. Our fourth quarter results capped off a very strong year for Huami," said Wang Huang, Chairman and CEO. "Customer adoption of the Amazfit brand grew significantly in 2018 with shipment of Amazfit products almost tripled compared with 2017, which was mainly driven by Amazfit watch products. In 2018, we introduced a breakthrough in healthcare technologies by applying in wearables powered by our self-developed AI chip Huangshan-1; broadened our IOT application scenarios; and engaged with strategic partnerships such as Timex and PAI Health. We see tremendous opportunity to continue our global growth. We intend to utilize our world-class research and development capabilities, as well as our collaborative partnerships to development new, innovative products and services that ensure we remain at the forefront of our industry."

David Cui, Chief Financial Officer, said, "Strong demand for our Amazfit products and continued robust sales of the Mi Bands allowed us to deliver revenues that exceeded the high-end of our previous guidance range in the fourth quarter. In addition, a focus on competitive product development and efficient business operation generated solid profitability in the quarter. Our pipeline of cutting-edge products, broad brand awareness and growing global distribution channels position us well for 2019 and beyond."

For earnings history and earnings-related data on Huami Corporation (HMI) click here.

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