Despite the popularity of the HTC One, it seems HTC are having a hard time saving their sinking ship. For the first time in the company’s history, HTC’s unaudited consolidated financial statements for Q3 2013 are showing an operating loss of NT$2.97 billion after tax, which works out to be about US$101 million. I don’t know a lot about accounting, but this doesn’t seem like good news for the struggling Taiwanese company.
Breaking the announcement down:
- Total revenues were NT$47.05 billion (US$1.6 billion)
- Operating loss before tax was NT$3.5 billion (US$119.4 million)
- Net loss after tax was NT$2.97 billion (US$101.3 million)
- Unaudited earnings per share (after tax) were -NT$3.58 (-US$0.12) based on 830,403 thousand weighted average number of shares
HTC predicted this unfortunate result, but hopefully actually seeing it realised will be the kick in the pants the company needs to actually do something about it – like take a good look at the senior management, perhaps.
