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UTStarcom Holdings Corp (UTSI) provides cutting-edge telecommunications infrastructure solutions for global network operators. This dedicated news hub aggregates official press releases and verified updates about the company's packet optical transport systems, broadband access innovations, and software-defined networking developments.
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UTStarcom (NASDAQ: UTSI), a global telecommunications infrastructure provider, has announced the filing of its Annual Report on Form 20-F for the fiscal year ended December 31, 2024, with the U.S. Securities and Exchange Commission. The report is accessible through multiple channels, including the SEC EDGAR website and the company's official website. Stakeholders can also request a complimentary hard copy of the report.
UTStarcom (NASDAQ: UTSI) reported its unaudited financial results for 2H and full year 2024. The company secured a significant multi-million dollar RFP win from China Telecom Research Institute for manufacturing 5G transport network routers. Despite this milestone, financial results showed declining performance.
Key financial metrics for FY2024:
- Total revenues decreased 31.0% to $10.9 million
- Net equipment sales fell 69.4% to $1.4 million
- Services revenue declined 15.1% to $9.5 million
- Gross profit margin decreased to 26.7%
- Operating loss widened to $7.3 million
- Net loss increased to $4.4 million ($0.48 per share)
The company ended 2024 with $53.1 million in cash, cash equivalents and restricted cash. Frame agreements for the China Telecom project were signed in early 2025, with purchase orders expected throughout 2025.
UTStarcom (NASDAQ:UTSI) has won a major RFP from China Telecom Research Institute for manufacturing disaggregated router hardware platforms. The contract involves two packages for China Telecom's STN network, which supports 5G mobile network services, enterprise, broadband, and cloud services.
In Package 1, UTStarcom secured 70% of the manufacturing contract for STN-A1 routers (1RU pizza-box, 300Gbps switching capacity). For Package 2, the company was awarded 100% of the manufacturing for STN-A3 routers (4RU modular chassis, 800Gbps switching capacity). The exact quantities will be determined in subsequent purchase orders.
This contract extends UTStarcom's collaboration with China Telecom Research Institute in developing 'white-box' disaggregated router platforms for 5G transport networks, marking the company's progression from product design services to volume manufacturing.
UTStarcom (NASDAQ: UTSI) reported its unaudited financial results for the first half of 2024. The company saw a 12.3% decrease in revenue to $5.7 million, compared to $6.5 million in the same period of 2023. Despite this, the operating loss improved to $3.6 million from $4.0 million year-over-year. Key highlights include:
- Expansion orders for mobile transport network in Europe and broadband core solution in India
- Collection of $3.39 million from BSNL, leaving $4.57 million outstanding
- Gross profit of $1.7 million, with a margin of 30.0%
- Net loss remained stable at $2.0 million, with EPS at ($0.22)
- Cash balance of $56.0 million as of June 30, 2024
UTStarcom, a global telecommunications infrastructure provider, filed its Annual Report on Form 20-F for the year ended December 31, 2023 with the U.S. Securities and Exchange Commission. The report is accessible online at SEC EDGAR website and UTStarcom's website. Interested parties can request a free hard copy.
UTStarcom (NASDAQ: UTSI) reported unaudited financial results for the full year and second half of 2022, showing a 11.95% revenue decline year-over-year to $14 million. The second half revenues totaled $6.5 million, a 9.72% decrease from $7.2 million in the prior year. Gross profit improved significantly to $1.3 million compared to a loss of $3.3 million in the same period last year. The company continues to collect receivables from India, with $9.8 million outstanding as of year-end. Despite challenges from the pandemic and geopolitical issues, CEO Hua Li emphasized ongoing progress in developing 5G solutions with China Unicom.
