UTStarcom Deepens Loss On IP Restructuring

Global IPTV and IP-based broadband solutions provider UTStarcom Inc. reported full year 2007 net sales of US$2.5 billion, flat with 2006 sales numbers, and a net loss of US$195.6 million, compared to a loss of $117.3 million in 2006, after market close on Thursday. In the fourth quarter, the company recorded net sales of $806 million, up from US$704 million in 2006, and a net loss of $24.6 million, or $0.20 per share. During the three month period, UTStarcom faced a restructuring charge of $14.5 million and a non-cash impairment of $23 million related to IPTV and IP-based devices. UTStarcom is expecting revenue between $500 million and $520 million for the first quarter of 2008.

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