ZTE revised its first-quarter results to a net loss on Friday, after China’s second-biggest telecommunications equipment maker took into account the impact of a crippling US supplier ban that has now been lifted.

ZTE said net loss for the three months through March was 5.4 billion yuan ($790.62 million), compared to a net profit of 1.2 billion yuan a year earlier. Revenue rose 6.9 percent on year to 27.5 billion yuan.

The company will set up an export compliance committee with company Chairman Li Zixue as one of the five members, ZTE said in a filing to the Shenzhen stock exchange.

In April, ZTE posted a 39 percent rise in first-quarter profit, but said at the time it was difficult to assess the impact of the supplier ban, imposed in mid-April in relation to its violation of US export restrictions.

ZTE, which makes smartphones and networking gear, said in its latest statement it expected to record a net loss for the first six months of the year due to the $1.4 billion it paid in penalties to have the ban lifted.

Earlier in July, ZTE estimated a first-half loss of 7 billion yuan to 9 billion yuan, versus a profit of 2.3 billion yuan a year earlier.

The US government lifted ZTE’s supplier ban after the firm deposited $400 million in a U.S. bank escrow account and paid a $1 billion penalty, as part of a settlement agreement.

The ban was imposed for reneging on an earlier settlement reached after ZTE was caught shipping US technology to Iran and North Korea in violation of US sanctions on those countries.