HTC has yet again failed to reverse its ailing fortunes in the first quarter of 2013, posting what Bloomberg calls its slimmest profit ever. The company made just NT$85 million (roughly $2.8 million) over the past three months after generating NT$42.8 billion (roughly $1.4 billion) in revenue. Those figures are significantly lower than last year's — in Q1 2012 the company made roughly $470 million on $2.2 billion revenue.

After multiple poor earnings reports, investors had hoped for positive results this quarter, pinning much of that hope on the launch of HTC's new "One" smartphone. The company is clearly underperforming in many areas, but the delay of its new flagship clearly hasn't positively impacted its finances. HTC had released the One in just three countries by the end of March, instead of the 80 countries it had hoped. No one was expecting the manufacturer to post a huge profit, but analysts were hoping for roughly $20 million, even with the delay in mind.

Next quarter will be crucial for HTC. The One will be available in most major markets, including the US, this month and HTC also has a fairly high-profile phone launch with its "Facebook phone," the First. If the company doesn't improve its results next July, it'll have very few excuses to hide behind.