UTStarcom Reports Unaudited Financial Results for Third Quarter 2019
UTStarcom Holdings Corp - Ordinary Shares (UTSI)
Last utstarcom holdings corp - ordinary shares earnings: 11/8 06:00 am
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Source: GlobeNewswire
HONG KONG, Nov. 08, 2019 (GLOBE NEWSWIRE) -- UTStarcom (“UT” or “the Company”) (NASDAQ: UTSI), a global telecommunications infrastructure provider, today reported its unaudited financial results for the third quarter ended September 30, 2019. UTStarcom’s Chief Executive Officer Mr. Tim Ti commented, "Third quarter results were mixed, reflecting the competitive environment and activities in advance of the transition to 5G. We achieved excellent gross margin from a favorable product mix and tightly controlled ongoing operating expenses. However, operating profit and net income were adversely affected due to an accounts receivable reserve for one of our major customers, a state owned enterprise in India.” Ti elaborated, “We are confident that we will be paid, because the Indian Government has publicly committed to a $10 billion revival plan for this state-owned enterprise. However, the precise timing of payment is uncertain. To be prudent and consistent, we continue to reserve in ac
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- UTStarcom Holdings Corp. (NASDAQ: UTSI) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- UTStarcom Holdings Corp. (NASDAQ: UTSI) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- UTStarcom Holdings Corp. (NASDAQ: UTSI) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- UTStarcom Holdings Corp. (NASDAQ: UTSI) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- UTStarcom Holdings Corp. (NASDAQ: UTSI) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat