China TechFaith (CNTF) Reports Q1 Loss of $0.06/Share; Appoints New CEO
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TechFaith Reports First Quarter 2015 Financial Results; Announces Management Succession
May 26, 2015 7:12 AM EDTBEIJING, May 26, 2015 /PRNewswire/ -- China TechFaith Wireless Communication Technology Limited (NASDAQ: CNTF) ("TechFaith" or the "Company") today announced its unaudited financial results for the first quarter ended March 31, 2015. Separately, the Company announced a planned management succession.
For the first quarter of 2015, TechFaith reported total net revenues of US$24.7 million compared to US$26.7 million in the fourth quarter of 2014 and US$26.8 million in the first quarter of 2014. Gross profit for the first quarter of 2015 was US$2.2 million compared to US$3.5 million in the fourth quarter of 2014 and... More
