UTStarcom Records Q3 2012 Loss of USD 21 Mln
UTStarcom, 11/15/12
Chinese network solutions provider UTStarcom (Nasdaq: UTSI) has announced its financial results for the three and nine month periods ended September 30, 2012. Q3 2012 revenues were USD 40.3 mln, a decrease of 51.6% YoY from USD 83.3 mln for the corresponding period of 2011. Total revenues for the nine months ended September 30, 2012 were USD 143.5 mln, a decrease of 39.5% YoY from USD 237.1 mln for the corresponding period of 2011.
Net loss attributable to UTStarcom shareholders for the third quarter and the first nine months of 2012 was USD 20.8 mln and USD 26.7 mln, respectively. Net income attributable to UTStarcom shareholders for the third quarter and the first nine months of 2011 was USD 8.0 mln and USD 9.3 mln, respectively.
Non-GAAP net sales from equipment for the third quarter of 2012 were USD 32.1 mln, a decrease of 17.2% YoY. The decrease was mainly caused by decreased sales of PTN products in Japan and GEPON products in China which was partially offset by increased sales of MSAN products in Japan.
Non-GAAP net sales from equipment-based services for the third quarter of 2012 were USD 5.0 mln, a decrease of 29.6% YoY. The decrease was primarily driven by fewer next generation network (NGN) products related services provided in the third quarter of 2012.
Non-GAAP net sales from equipment for the nine months ended September 30, 2012 were USD 99.1 mln, a decrease of 7.9% YoY. The decrease was mainly driven by decreased sales of PTN products in Japan and GEPON products in China which was partially offset by increased sales of MSAN products in Japan.
Non-GAAP net sales from equipment-based services for the nine months ended September 30, 2012 were USD 16.9 mln, a decrease of 30.5% YoY. The decrease was mainly due to fewer NGN products related services provided in the third quarter of 2012.
To view the complete report please see here.
Keywords: MSAN loss telecom GEPON PTN NGN UTSI UTStarcom Q3 2012 revenue fiscal report
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