HTC's Q1 Revenues Down 3.40% YOY

HTC Corporation announced on Monday the financial results for the first quarter of the ongoing year and posted total revenues of NT$31,590 million (around US$955 million) for the time frame, translated into a 3.40 percent drop compared to the same period a year ago. In addition, the company also announced that its revenues in March 2009 went up 12.03 percent on a yearly basis, reaching a total of NT$12,376 million (around US$374.16 million).

Self-assessed total operating income for the quarter was NT$4,845 million (around US$146.47 million), with NT$5,410 million total net income before tax, and NT$4,890 million total net income after tax. HTC also announced self-assessed earnings per share after tax of NT$6.56 (around US$0.19 on current 745,394 thousand outstanding shares). The company's revenues for the quarter were of only 95.7 percent of what it expected, due to “certain new product shipment delayed to April,” says HTC.

Previously, the phone maker was reported to forecast a double-digit growth during the ongoing year, even if the market is expected to shrink due to financial recession, and it announced that it maintained the same view for the upcoming quarters. At the same time, we should also note that the company stated about a month ago that the Asia-Pacific mobile phone market had started to see improvements.

HTC has seen a lot of popularity among mobile phone users lately, due to its high-end Windows Mobile-powered handsets like HTC Touch Pro or Touch Diamond (and more), as well as to the Android-powered mobile phones it released, the HTC Dream and HTC Magic. With a wide range of handsets expected to be launched during the ongoing year, the company has great chances to prove it is capable of turning into reality its previsions for the following three quarters of 2009.