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China TechFaith expects 2nd-qtr sales to rise

By Associated Press
May 19, 2008 | Comments (0)

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Cell phone design company China TechFaith Wireless Communication Technology Ltd. said Monday it expects second-quarter sales to rise at least 63 percent.

The company forecast sales in the range of $52 million to $54 million for the quarter ending in June, compared with the $32 million it earned in the 2007 second quarter.

Shares of the Beijing-based company rose 12 cents to close at $6.67. They fell 87 cents, or 13 percent, to $5.80 in after-session trading following the release of the first-quarter results.

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