China Techfaith 2nd-quarter profit climbs 62 percent with increased phone sales

China Techfaith 2Q profit rises 62 percent

SAN FRANCISCO — China Techfaith Wireless Communication Technology Ltd. said Tuesday that its second-quarter profit climbed 62 percent as the Chinese cell phone designer’s product sales rose.

The Beijing-based company’s American depositary shares rose 17 cents, or 5.3 percent, to $3.38 in after-hours trading. The stock had finished regular trading up 14 cents, or 4.6 percent, at $3.21.

For the April-June quarter, China Techfaith said it earned $7.3 million, or 13 cents per ADS, compared with $4.5 million, or 10 cents per ADS, in the year-ago quarter.

Revenue rose nearly 32 percent year-over-year to $65.5 million. The company sold 691,000 mobile products in the quarter, helped by demand in Europe, China, India and Southeast Asia.

For the current quarter, China Techfaith predicted revenue of $66 million to $68 million.