View all newsletters
Receive our newsletter - data, insights and analysis delivered to you

UTStarcom Q4 net loss widens

Net sales for the year 2008 were $1.6 billion as compared to $2.5 billion for the year 2007

By CBR Staff Writer

UTStarcom, a manufacturer of handsets and customer premise equipment, has posted a GAAP net loss of $80.9m for the fourth quarter of 2008, or $0.65 per share, as compared to a loss of $24.6m, or $0.20 per share, for the same period in 2007.

Net sales for the fourth quarter 2008 were $241m as compared to $806m in the fourth quarter of 2007. Gross margins for the fourth quarter 2008 were 12.4% as compared to 12.7% in the fourth quarter of 2007. The operating loss for the fourth quarter of 2008 and 2007 was $79m and $53m, respectively.

The GAAP net loss for the full year 2008 was $150.3m, or $1.22 per share, as compared to a loss of $195.6m, or $1.62 per share in the prior year.

Net sales for the year 2008 were $1.6 billion as compared to $2.5 billion for the year 2007. Gross margins for the year 2008 were 15.9% as compared to 13% in 2007. The operating loss for the full year 2008 and 2007 was $176m and $212m, respectively.

Peter Blackmore, CEO and president of UTStarcom, said: We ended the year with net cash and short term investments of $314 million. During the fourth quarter we also announced aggressive actions to further reduce our operating expenses and streamline our business. We shall continue to drive further reductions in expenses during 2009 as we focus on growing revenues in our core IP based product portfolio.

Content from our partners
Rethinking cloud: challenging assumptions, learning lessons
DTX Manchester welcomes leading tech talent from across the region and beyond
The hidden complexities of deploying AI in your business

Websites in our network
Select and enter your corporate email address Tech Monitor's research, insight and analysis examines the frontiers of digital transformation to help tech leaders navigate the future. Our Changelog newsletter delivers our best work to your inbox every week.
  • CIO
  • CTO
  • CISO
  • CSO
  • CFO
  • CDO
  • CEO
  • Architect Founder
  • MD
  • Director
  • Manager
  • Other
Visit our privacy policy for more information about our services, how Progressive Media Investments may use, process and share your personal data, including information on your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.
THANK YOU