Tuesday, August 5, 2008

UTStarcom Posts Sales of $633 Million, up 18% YoY

UTStarcom reported Q2 sales of $633 million as compared to $538 million in the second quarter of 2007 representing an 18% increase. The operating loss for the second quarter of 2008 was $31.1 million as compared to an operating loss of $55.3 million in the second quarter of 2007. This improvement was primarily due to a $22 million reduction in operating expenses. The net loss for the second quarter of 2008 was $38.8 million, or ($0.31) per share, as compared to a net loss of $61.7 million, or ($0.51) per share in the second quarter of 2007.


The company's Personal Communications Division ("PCD") revenues for the second quarter of 2008 were $449 million as compared to $358 million in the second quarter of 2007. Gross margins for the second quarter of 2008 were 13.0% as compared to 14.8% in the second quarter of 2007.

http://www.utstar.com

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