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.
UTStarcom will hold an extraordinary general meeting of shareholders on June 27, 2022, at 2:00 p.m. China Standard Time. The purpose of the meeting is to seek approval for a one-for-four reverse share split aimed at enhancing the marketability and liquidity of its shares. If approved, this reverse split will take effect immediately, consolidating every four shares into one. UTStarcom is focused on delivering innovative telecommunications solutions and operates globally, particularly in Japan and India.
BEST Inc. (NYSE: BEST) announced the resignation of director Mark Qiu, effective May 6, 2022, due to personal reasons. Qiu has served since 2011 and will continue as a strategic advisor. The company appointed Ying Wu and Klaus Anker Petersen as independent directors. Wu will chair both the audit and compensation committees. With over 35 years of experience, Wu has managed approximately US$2 billion in assets and co-founded UTStarcom. Petersen brings over 20 years of experience in retail and e-commerce logistics. These appointments aim to enhance strategic oversight at BEST.
On April 26, 2022, UTStarcom filed its Annual Report on Form 20-F for the year ended December 31, 2021, with the U.S. SEC. This report provides essential insights into the company's financial performance and operations. Investors can access the report on the SEC EDGAR website or in PDF format from UTStarcom's official site. Founded in 1991 and listed on Nasdaq since 2000, UTStarcom specializes in telecommunications infrastructure, focusing on innovative communication services, particularly in Japan and India.
UTStarcom (NASDAQ: UTSI) reported its financial results for 2021, showing a 34.6% decline in revenue to $15.9 million and a net loss of $6.3 million. The company faced challenges due to the ongoing COVID-19 pandemic, impacting investments and revenue from major customers in Japan and India. Gross profit turned negative at ($1.1 million), with a loss in equipment sales of 81.2%. Despite these setbacks, the cash balance increased by 37% to $66.3 million. The company is pursuing business growth opportunities while managing existing receivables from India.
UTStarcom (NASDAQ:UTSI) announced it received a delinquency letter from Nasdaq on January 24, 2022, for not meeting the minimum bid price requirement due to its shares closing below $1 for 30 consecutive business days, from December 9, 2021, to January 21, 2022. The Company has a compliance period of 180 days, until July 25, 2022, to regain compliance by achieving a closing bid price of at least $1 for ten consecutive days. UTStarcom is exploring options to address this deficiency, but its shares will continue to be traded on Nasdaq during this period.
UTStarcom (NASDAQ:UTSI) announced its collaboration with China Unicom Research Institute, focusing on a disaggregated networking solution for 5G transport networks. The development of the CUNOS network operating system, initiated in 2020, aims to enhance operational efficiency and reduce costs associated with 5G networks. Recent testing showed stable performance and integration of various hardware platforms. CEO Mr. Li Hua emphasized this milestone strengthens UTStarcom's position in the 5G sector and paves the way for future hardware and software cooperation.
UTStarcom (NASDAQ: UTSI) announced significant changes in governance, with Ms. Wendong Zhang resigning from the Board effective November 16, 2021, to pursue other interests. Mr. Hao Zheng has been appointed to the Board and its key committees from November 17, 2021. Zheng is the head of the asset management department at Beijing E-town International Investment Development. Additionally, CEO Hua Li will join the Board effective January 1, 2022, succeeding Dr. Zhaocheng Huang. Both appointments aim to leverage fresh perspectives for business growth and shareholder value.
UTStarcom announced a strategic cooperation agreement with China Comservice Zhongrui Technology on September 8, 2021. The partnership aims to develop and produce software and hardware products focusing on blockchain, IoT, cloud computing, and 5G. This collaboration is expected to enhance both companies' capabilities in product marketing and sales.
UTStarcom, celebrating its 30th anniversary, is positioned to leverage its R&D expertise to optimize growth in transformational technologies while Zhongrui Technology brings significant technical expertise and market presence.
UTStarcom (NASDAQ: UTSI) announced the resignation of Dr. Zhaochen Huang from its Board of Directors, effective December 31, 2021. Dr. Huang will transition to focus on business development as the president of UTStarcom Japan. The company expressed gratitude for Dr. Huang's contributions and emphasized his future role in strengthening relationships with key partners in Japan. Established in 1991, UTStarcom specializes in telecommunications infrastructure and operates globally, with a significant focus on markets including Japan, India, and China.
UTStarcom (NASDAQ: UTSI) reported its unaudited financial results for the first half of 2021, with revenues at $8.7 million, down 36.6% year-over-year. The company achieved a net income of $0.3 million, a substantial turnaround from a $12.0 million loss last year. Operating expenses drastically decreased by 89.1% to $1.3 million, aided by a $5 million allowance reversal from credit losses in India. Notably, cash flow from operations reached $14 million, with a cash balance of $61.9 million as of June 30, 2021. The firm also advanced its 5G transport network development with major telecom operators.