HTC on Friday reported disappointing unaudited second-quarter earnings that showed a huge drop in profit as the struggling smartphone maker’s woes continue. The Taiwan-based vendor said it earned approximately NT$8.90 per share in the second quarter for a total profit of NT$7.4 billion, down 57.8% from NT$17.52 billion in the second quarter of 2011, on NT$91 billion in sales. HTC beat revenue estimates in the second quarter last year when it managed sales totaling NT$124.4 billion. HTC cited customs issues and slower than expected sales with its disappointing performance. The company’s brief earnings statement follows below.

HTC RELEASES UNAUDITED RESULTS FOR 2Q 2012

Taoyuan, Taiwan – July 6, 2012 – HTC Corporation (TWSE: 2498), a global leader in mobile innovation and design, today announces unaudited consolidated results for 2Q 2012. For the second quarter of 2012, total revenues reached NT$91.0 billion. Unaudited operating income was NT$8.2 billion, net income before tax was NT$8.9 billion, net income after tax, excluding minority interest, was NT$7.4 billion, and unaudited earnings per share after tax were NT$8.90 based on 831,227 thousand weighted average number of shares.

Zach Epstein has worked in and around ICT for more than a decade, first in marketing and business development with two private telcos, then as a writer and editor covering business news, consumer electronics and telecommunications. Zach’s work has been quoted by countless top news publications. He was also recently named one of the world's top-10 “power mobile influencers” by Forbes, as well as one of Inc. Magazine's top-30 Internet of Things experts.