UTStarcom Holdings Swings To Q2 Profit; Sees Weak Q3 Revenues - Quick Facts

(RTTNews) - Telecom infrastructure provider UTStarcom Holdings Corp.(UTSI) posted second-quarter net income attributable to the company of $2.85 million or $0.08 per basic share, compared to a net loss of $4.59 million or $0.12 per basic share in the prior-year quarter.

Excluding items, adjusted net loss attributable to the company was $0.87 million or $0.02 per basic share, compared to loss of $3.98 million or $0.11 per basic share in the year-ago quarter.

Net sales for the quarter decreased to $30.79 million from $31.90 million in the same quarter last year. Adjusted net revenue was $16.70 million, compared to last year's $31.87 million.

On average, analysts polled by Thomson Reuters expected the company to report a loss of $0.17 per share on revenues of $24.79 million for the quarter. Analysts' estimates typically exclude special items.

Looking ahead to the third quarter, the company expects to generate adjusted revenues in the range of $18 million to $22 million. Analysts currently expect second quarter revenue of $29.68 million.