Zoom Technologies posts fourth-quarter loss

Reuters News
Posted: Apr 16, 2012 5:14 PM

(Reuters) - Zoom Technologies <ZOOM.O> posted a fourth-quarter loss, hurt mainly by less profitable manufacturing contracts, sending the Chinese mobile company's shares down 13 percent in aftermarket trade.

Net loss for the quarter was $2 million, compared with a net income of $5.1 million in the year-ago period.

Revenue for the company, which supplies to Samsung Electronics Co Ltd <005930.KS> and China Mobile Communications Corp <CHNMC.UL>, rose 60 percent to $139 million.

The company was also hurt by acquisition-related costs and increase in R&D expenditure.

Shares of the company were trading down 13 percent at $1.22 in aftermarket trade. They closed at $1.40 on Monday on the Nasdaq.

(Reporting by Chandni Doulatramani in Bangalore; Editing by Sriraj Kalluvila)