UTStarcom Reports Big Profit
UTStarcom reported net income of $37.3 million, or 33 cents a share, compared to $17.5 million, or 15 cents a share for the year-ago quarter. UTStarcom's net sales for the quarter were $330.5 million, compared to $183.7 million for the first quarter of 2002. It expects revenues for the second quarter of 2003 to be in the range of $380 million to $390 million, with earnings per share of either 29 or 30 cents on a GAAP basis.
The Alameda-based equipment maker's success isn't that surprising, considering its roots are about as Californian as The Great Wall...
You may read the complete story here on Light Reading's sister site devoted to the world of wireless, Unstrung.