China TechFaith Wireless Q2 Loss Widens - Quick Facts

(RTTNews) - China TechFaith Wireless Communication Technology Limited (CNTF) reported that net loss attributed to the company for the second quarter of 2013 was $0.97 million or $0.02 loss per ADS, compared to a net loss of $0.7 million or $0.01 loss per ADS in the second quarter of 2012.

Net revenue was $30.2 million, down from $32.4 million last year.

TechFaith currently expects total revenues for the third quarter of 2013 to be in the range of $29.0 million to $33.0 million. The company said it would expect to see improvement in its gross margin in the third quarter.