SHENZHEN – Nam Tai Electronics reported fourth-quarter 2012 net sales of $468.5 million, up 263% year-over-year.

For the period ended Dec. 31, net income was $36.6 million, compared to a net loss of $5.6 million in the fourth quarter of 2011.

For full-year 2012, net sales were $1.15 billion, up 119% year-over-year.

Net income for 2012 was $66.9 million, compared to $505,000 in 2011.

The company attributes the increase in sales to its Shenzhen manufacturing facility beginning mass production of high-resolution LCD modules for smartphones in September 2012 and to the company's Wuxi manufacturing facility continuing to ramp up its production of high-resolution LCD modules for tablets.

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