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Nasdaq-listed UTStarcomsuffer losses in Q1

May. 17, 2012 (China Knowledge) – UTStarcomInc<UTSI>, a global leader in Internet Protocol-based network solutions, suffered US$4.2 million in net loss attributable to shareholders in Q1, compared with a net loss attributable to shareholders of US$10.3 million in the same period of 2011.

In Q1 2012, the company saw its total revenue decreased 23.8% YoY to US$46.7 million.

The revenue contributed by its equipment business decreased 26.8% YoY to US$38.7 million, while the revenue from protocol-based service reached US$7.8 million, down 6.6% YoY.

UTStarcom is focus on the development of its VSC video service platform, and expects to partly commercialize this service in Q2 this year, said Lu Ying, CEO of UTStarcomm.

As of Mar. 31, 2012, the company had US$285.4million in cash,whereas it had US$310.4million in the corresponding period of 2011.

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