UTStarcom (UTSI) Posts Q3 Improvements, Reiterates Full-year 2011 Guidance
UTStarcom Holdings Corp., a leading provider of interactive, IP-based network solutions and broadband for cable and telecom operators, today reported financial results for the third quarter ended Sept. 30, 2011. The company posted third-quarter 2011 revenues at $83.3 million, up 36 percent over the $61.4 million reported for the third quarter of 2010. Gross profit increased 164 percent year-over-year to $31.9 million in the third quarter of 2011 compared to $12.1 million reported for the comparable quarter of 2010. Gross margin was 38 percent in the third quarter of 2011 compared to gross profit of 19.7 percent reported in the…