Orca Exploration Group Inc. has reported its financial results and independent reserves evaluation for the year period ended 31 December 2015. In this year, BVI company’s revenue decreased 4 per cent from US$56.6mln in the last year to US$54.1mln. Mainly as the result of lowered revenue, funds flow from operating activities decreased 18 per cent and was US$26.6mln, or US$0.76 per share (basic and diluted), as compared to US$32.4mln, or US$0.93 per share (basic and diluted) in the same period last year.

Net income reported by Orca Exploration Group was US$1.5mln, or US$0.04 per share (basic and diluted), as compared to US$38.3mln, or US$1.10 per share, loss in the previous year. Total capital expenditures were US$38.4mln for the reported year.

TANESCO payments continued to be irregular in 2015; during the fourth quarter of this year, payments decreased with only US$4.5mln being received against sales of US$11.7mln. As at 31 December 2015, a further US$9.8mln were reclassified as long-term debts , and a full provision has been placed against this.

BVI-registered China TechFaith Wireless Technology Limited reported its unaudited financial results for the last quarter, and full year period ended December 31, 2015. Company’s total net revenues were US$8.7mln in the fourth quarter of 2015, as compared toUS$26.7mln in the fourth quarter of the previous year. Gross profit for the fourth quarter of 2015 was US$2.2mln compared to gross profit of US$3.5mln in the fourth quarter of 2014. Gross margin in Q4 2015 was 25 per cent.

Operating expenses for the fourth quarter of 2015 reported by TechFaith were US$3.9mln copared to US$8.7mln in the same quarter of 2014. Net loss attributed to the BVI company for the fourth quarter of 2015 was US$2.4mln, or US$0.23 per ADS (basic and diluted), compared to US$3.9mln net loss, or US$0.36 loss per ADS (basic and diluted) in the fourth quarter of 2014.

For the full year period ended December 31, 2015, TechFaith’s total net revenues were US$64.6mln compared to US$99.3mln for the full year ended December 31, 2014. Gross profit for the year 2015 was US$6.7mln, compared to US$9.8mln for the full year 2014. Gross margin was 10.4 per cent (9.9 per cent for the full year 2014).

For the year 2015, operating expenses were US$18.1mln compared to US$26.2mln for the previous year. Net loss attributed to the BVI company for 2015 was US$12.8mln, or US$1.21 per ADS (basic and diluted), compared to a net loss of US$13.4mln, or US$1.27 per ADS (basic and diluted) for year 2014.

Talon Metals Corp., the British Virgin Islands-registered company focused on exploration and development projects, announced financial results for the year ended December 31, 2015. For this period, the company reported net loss of US$6.3mln, or US$0.06 per share (basic and diluted), as compared to the net loss of US$17.2mln, or US$0.18 per share (basic and diluted) for the previous year ended December 31, 2014.

For the year ended December 31, 2015, the BVI corporation reported capitalized exploration costs and deferred expenditures on the Tamarack project in the amount of US$5.5mln, as compared to US$9.7mln for the previous year. Total capitalized exploration cost on the project was US$15.2mln as at December 31, 2015.