logo
Plus   Neg
Share
Email

UTStarcom Issues Q1 Revenue Outlook - Quick Facts

UTStarcom (UTSI), a global telecommunications infrastructure provider, announced, for the first quarter of 2019, the company expects to generate revenue in the range of $20 to $25 million. The company noted that its quarterly revenue pattern is typically uneven due to the timing of project fulfillments.

Fourth-quarter total revenues were $12.7 million, compared to $18.2 million in the corresponding period in 2017. Net equipment sales were $8.5 million, a decrease of 33.6% from prior year. The company said the decrease was due to the timing of India project fulfillments. Fourth-quarter net loss attributable to shareholders was $1.0 million, compared to a net loss of $3.6 million in the corresponding period in 2017. Basic loss per share was $0.03 compared to a basic loss per share of $0.10.

Fiscal 2018 total revenues were $115.9 million, an increase of 18% from $98.3 million in 2017. Full year 2018 net income attributable to shareholders was $5.1 million, compared to net income of $7.0 million in 2017.

UTStarcom's CEO Tim Ti stated, "We are pleased with our strong execution in 2018. We achieved year-over-year revenue growth of 18%, maintained profitability in a competitive environment, secured key project wins in India and introduced advanced products that have strengthened our competitive position. Fourth quarter revenue was within our guidance, and gross margin increased more than 20 percentage points, driven by favorable product and geographic mix."

For comments and feedback contact: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Shares of Worldpay, Inc. were gaining around 12 percent in London after the eCommerce and payments technology company announced its agreement to be merged with FIS, a U.S. financial services technology company. The combination of stock and cash values Worldpay at an enterprise value of approximately $43 billion, including the assumption of Worldpay debt. Germany's two biggest lenders, Deutsche Bank (DB) and Commerzbank (CRZBY.PK) Sunday confirmed they are in discussions to potential merge. France's National Council of Clerks or NCC, the representative entity of commercial courts' clerks, has successfully deployed an IBM blockchain network, to streamline the management of commercial and corporate registry. The move is expected to improve management of legal transactions related to the companies, and bring better transparency and efficiency.
Follow RTT