Chinese smart wear company Zepp Health Corporation reported fourth-quarter revenue of $302.3 million, down 0.33 percent year-on-year, according to the company's earnings release on March 15.
Zepp reported NON-GAAP adjusted earnings per diluted share of RMB 0.49 and adjusted diluted earnings per ADS of $0.30.
The company reported full-year revenue of $986 million, up 10.7% year-on-year.
It spent RMB 538 million ($827 million) on research and development for the full year 2020, up 24.9% year-on-year, and accounted for 8.4% of revenue, up from 7.4% in 2019.
Zepp held cash and cash equivalents of $348.4 million as of December 31, 2020, up 26.1% year-on-year.
The company shipped 45.7 million total units in 2020, up 8% year-on-year, including 20.5% growth in shipments under its own brand.
The company expects first-quarter 2021 net income to be in the range of RMB 1.0 billion to RMB 1.15 billion, the same as the same period in 2020.
Zepp CFO Leon Deng said there would be more investment to boost Amazfit and Zepp's growth, as well as further reductions to hedge this expense.
The company, once known as Huami Technology, changed its English name on March 1, as previously reported by CnTechPost.
Zepp Health Corporation's own brands Amazfit and Zepp's products include the Amazfit Pop, Bip, Neo and GT series.
