Welcome to our dedicated page for Utstarcom Holdings news (Ticker: UTSI), a resource for investors and traders seeking the latest updates and insights on Utstarcom Holdings stock.
UTStarcom Holdings Corp (NASDAQ: UTSI) is a global telecommunications infrastructure provider that focuses on high performance equipment for mobile backhaul, metro aggregation and broadband access. This news page brings together company announcements, financial updates and product communications so readers can follow developments that affect UTSI stock and UTStarcom’s business.
UTStarcom regularly issues news releases on its unaudited financial results for the first and second halves of each year, along with full‑year summaries. These updates typically discuss revenue mix between equipment and services, gross margins, operating expenses, operating loss and cash position, as well as business highlights such as expansion orders, maintenance and support contracts, and progress with key customers in Japan, India, China and Europe.
The company also publishes news about its technology and product roadmap. Recent examples include the launch of the SkyFlux SPN310 router as part of the SkyFlux Converged Packet Transport platform, and milestones in its disaggregated 5G transport network solutions developed with China Telecom Research Institute and China Unicom Research Institute. Other releases describe expansion orders for NetRing PTN and IMS broadband core solutions, new SyncRing synchronization products, and post‑sale support orders for platforms such as NetRing PTN, SyncRing, IMS and SSTP.
Investors and analysts can use this news feed to monitor UTStarcom’s contract wins, market focus, product introductions and strategic transition, alongside its periodic financial disclosures. By reviewing the sequence of press releases, readers gain context on how the company’s equipment and service activities evolve over time and how these developments relate to UTSI’s performance.
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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.
UTStarcom (NASDAQ: UTSI) has launched the SyncRing XGM30E PTP Grandmaster, enhancing its SyncRing synchronization equipment line. Designed for mobile networks, this indoor solution delivers TE accuracy of ±40ns, meeting the stringent requirements of 4G and 5G applications. Key features include compliance with IEEE 1588-2008 standards, support for SyncE output/input, and a design accommodating multiple GNSS systems. The new product aims to improve frequency and time synchronization efficiently, integrating seamlessly with existing infrastructure.
UTStarcom (UTSI) reported its financial results for the first half of 2022, showing a 13.8% decline in revenue to $7.5 million, and a 40.9% drop in gross profit to $1.3 million. Operating loss increased to $2.8 million from a profit of $0.9 million, highlighting challenges due to the China-US trade war and COVID-19. Notably, net equipment sales grew 65.0% to $1.4 million, while service sales fell 22.4%. Despite the loss, cash reserves increased by 4.2% to $64.5 million. The company executed a reverse stock split to maintain Nasdaq compliance.
UTStarcom has announced the appointment of three key executives effective September 1, 2022. Mr. Dan Xie is now Chief Financial Officer, previously serving as Vice President of Global Finance. Dr. Lingrong Lu has been named Chief Technology Officer after her tenure as Vice President of R&D. Ms. Ellen Chen steps into the role of Chief Human Resources Officer, having served as Vice President of Global HR and Administration since 2015. These appointments aim to strengthen leadership and drive innovation within the company, which focuses on telecommunications infrastructure.
UTStarcom (NASDAQ: UTSI) introduced its SkyFlux UAR Disaggregated Router, a next-gen platform enhancing telecommunications networks. This modular solution targets 5G applications, offering an open ecosystem that reduces costs and promotes innovation. Key features include flexibility in hardware/software integration and a carrier-grade design, utilizing the Broadcom DNX chip among others. CEO Li Hua emphasized the strategic importance of network disaggregation for future growth, reinforcing UTStarcom's position in the evolving telecom landscape.
On July 15, 2022, UTStarcom (NASDAQ: UTSI) announced that it has regained compliance with NASDAQ's Listing Rule 5450(a)(1). The company achieved this status as its common stock's closing bid price has remained at $1.00 per share or greater for the last 10 consecutive business days. UTStarcom is a global telecommunications infrastructure provider known for offering innovative communication services and equipment for mobile backhaul, metro aggregation, and broadband access, with a strong presence in Japan and India.
UTStarcom (NASDAQ:UTSI) announced its selection as the exclusive winner of the RFP for the design service of new line card hardware for China Telecom Research Institute's A3 White-box Router Platform. This project is a significant milestone in their collaboration, aimed at optimizing 5G transport networks. The project expands capabilities by introducing three new line cards, including one with 100GE and others with 50GE and 10GE ports. CEO Li Hua highlighted confidence in UTStarcom’s design capabilities and anticipates future volume orders for these products.
UTStarcom (NASDAQ: UTSI) held its extraordinary shareholders' meeting on June 28, 2022, where key resolutions were approved. A one-for-four reverse stock split was authorized, consolidating 250 million shares into 62.5 million shares with an increased par value. This aims to comply with NASDAQ’s minimum bid price requirement of $1.00 within 180 days. The meeting also included the adoption of a revised Memorandum and Articles of Association.
UTStarcom has announced the rescheduling of its extraordinary general meeting of shareholders to June 28, 2022, at 10:00 a.m. China Standard Time. The company has also released its proxy statement, now accessible on its website. UTStarcom, a global telecommunications infrastructure provider based in Hangzhou, China, focuses on innovative communication services, particularly in Japan and India. The company was founded in 1991 and went public on Nasdaq in 2000 under the ticker UTSI.