Shanghai Potevio Co Ltd. saw its net profits sag 629.26% year on year to negative CNY 7.238 million in the third quarter of 2008, said the Shanghai-listed communication equipment producer on October 28 in its financial report.

Basic and diluted earnings per share both dropped 586.67% from the comparable period of 2007 to negative CNY 0.027, and negative CNY 0.024, respectively.

Fully diluted return on equity stood at negative 0.47%, tumbling 376.47 percentage points from a year earlier. Excluding non-recurring gains and losses, fully diluted return on equity was negative 0.54%, withering 418.45 percentage points year on year.

Notably, Potevio posted net profits of CNY 4.3775 million for the first three quarters of 2008. Basic and diluted earnings per share were CNY 0.011 and CNY 0.014, respectively. Fully diluted return on equity was 0.29%, and excluding non-recurring gains and losses, the figure stood at 0.23%, citing the report.

Source:SinoCast