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ZTE warns of annual net loss of up to 2.9 billion yuan for 2012
January 20, 2013 / 11:30 AM / 5 years ago

ZTE warns of annual net loss of up to 2.9 billion yuan for 2012

SHANGHAI, Jan 20 (Reuters) - China’s second-largest telcom equipment maker, ZTE Corp., expects to report a net loss of between 2.5 billion yuan to 2.9 billion yuan ($466.6 to $402.2 million) for full-year 2012, the company said on Sunday.

The expected loss amounts to 0.73 - 0.85 yuan per share and compares to a net profit of 2.06 billion yuan in 2011, the company said in a preliminary earnings statement posted on the website of the Shenzhen Stock Exchange. ($1 = 6.2154 Chinese yuan) (Reporting by Gabriel Wildau; Editing by Louise Heavens)

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