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China GrenTech (NASDAQ: GRRF), the manufacturer of wireless coverage products announced its financials for Q1 2007. During the quarter, the company posted $4.1 million in revenue, 111% higher compared to Q1 2006. However, the company's loss also widened to $5.5 million, up 18.5% year-over-year. Yingjie Gao, CEO of GrenTech said that he is pleased with the revenue increase. The increased loss is mainly a result of higher R&D and sales expenses. Going forward, the company believes it will benefit from increasing spending on the TD-SCDMA networks in China.
Last update : 28-07-2007
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