Taiwan’s HTC (2498TW) this morning reported Q4 revenue and profit below analysts’ estimates and warned the current quarters revenue will miss consensus sharply.
Revenue in the three months ended in December fell 2.5% to $101.4 billion, in New Taiwan dollars, yielding EPS of $13.06.
Analysts had been modeling $108.7 billion and $14.42 per share.
The sales result is below the $104 billion the company forecast when it slashed its Q4 outlook back on November 23rd as a result of weaker demand and rising competition.
For the current quarter, the company sees revenue in a range of $65 billion to $70 billion in New Taiwan dollars. That is below the consensus $87.8 billion.
Gross margin is expected to decline to about 25% from 27% last quarter.
Sales in January fell almost 53%, to $16.62 billion, the company said. That was below some estimates. For example, Sanford Bernstein’s Pierre Ferragu last week estimated January sales of $22 billion.
CEO Peter Chou remarked, “While short term performance may not meet the results as expected, we have gained further experience and advancement in the areas of brand management and product innovation. These fundamental strengths and the groundwork we have laid will take us into 2012 with a renewed focus and determination.�
Shares of HTC fell $30 in New Taiwan dollars from Saturday’s close, or 5%, to $551 before the report was released.
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