(Trade4all.com, May 21, 2010) Windsor, Ontario - China Techfaith Wireless Communication Technology Limited (CNTF) ("TechFaith" or the "Company") announced yesterday after the close its unaudited financial results for the first quarter ended March 31, 2010.

For the first quarter of 2010, TechFaith reported net revenue of US$60.9 million (RMB 415.8 million), a 1.8% increase compared to US$59.8 million (RMB 408.3 million) in the fourth quarter of 2009 and a 25.1% increase compared to US$48.7 million (RMB 332.9 million) in the same period of last year. Gross margin for the first quarter of 2010 improved to 22.0% compared to 16.1% in the previous quarter and 18.1% in the same quarter last year. Net income attributable to Techfaith for the first quarter of 2010 was US$6.9 million (RMB47.1 million), compared to US$3.1 million (RMB21.2 million) in the fourth quarter of 2009, and US$2.1 million (RMB14.4 million) in the same quarter of last year. The stock is up more than 30 percent on well above average trading volume.

ECOtality, Inc. (ECTY), a leader in clean electric transportation and storage technologies, will begin trading its common stock on the NASDAQ Capital Market today. The company commenced trading on the nasdaq exchange up over 8 percent.
 

Submitted by Michael Antenucci