UTStarcom Reports Net Loss Amid Restructuring
From Forbes: UTStarcom forecasts large 3Q loss
"UTStarcom Inc., (...) posted a narrower-than-expected second-quarter loss on Tuesday, but predicted a third-quarter loss significantly larger than Wall Street expects."
"UTStarcom moved to a loss of $74.7 million, or 65 cents per share, from a year-ago profit of 43.9 million, or 33 cents per share. Excluding restructuring charges of $20.7 million, or 16 cents per share, and other non-operating items, UTStarcom said its loss would have been about 45 cents per share. Revenue rose 5 percent to $723 million from $689.6 million."
"Looking to the third quarter, UTStarcom said it expects to post a loss of 35 cents to 40 cents per share, including restructuring charges of $5 million to $10 million. Revenue will range from $660 million to $680 million, the company said. Analysts expect a third-quarter loss of about $11.8 million, or 8 cents per share, on higher sales of $778.4 million. Analyst estimates usually exclude items such as restructuring costs."
Watch: UTStarcom's CTO Bill Huang opines on fixed/mobile convergence, cable's plight in Asia, his company's restructuring, and much more 256k 512k 768k
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