Reuters
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UPDATE 1-Zoom Technologies posts 4th-qtr loss
Mon, Apr 16 17:08 PM EDT

* Q1 net loss $2 mln vs net income $5.1 mln year ago

* Q1 rev up 60 pct to $139 mln

* Shares down 13 pct in aftermarket trade

April 16 (Reuters) - Zoom Technologies posted a fourth-quarter loss, hurt mainly by less profitable manufacturing contracts, sending the Chinese mobile company's shares down 13 percent in aftermarket trade.

Net loss for the quarter was $2 million, compared with a net income of $5.1 million in the year-ago period.

Revenue for the company, which supplies to Samsung Electronics Co Ltd and China Mobile Communications Corp, rose 60 percent to $139 million.

The company was also hurt by acquisition-related costs and increase in R&D expenditure.

Shares of the company were trading down 13 percent at $1.22 in aftermarket trade. They closed at $1.40 on Monday on the Nasdaq.


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