UTStarcom, Inc. (UTSI) provides communications equipment for service providers that operate wireless and wireline networks in rapidly growing communications markets. For the 3 months ended 3/31/00, net sales totalled $58.8M, up from $27.6M. Net loss from continuing operations totalled $3M, up from $1.2M. Revenues benefitted from an increase in the sales volume of network access systems. Higher loss reflects increased sales & administrative personnel.
Float 21.50m
Outstanding Shares 93.50
Mkt Cap $1,881,630,000
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Nearly profitable with annual sales increased 113% ?
dljdirect.com
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Recent headlines:
06/01/2000 UTStarcom Signs $35 Million PAS(TM) Contract with FITEL in Taiwan; China Market Update on PAS(TM)
05/23/2000 UTStarcom's Wireless Access PAS Reaches 100,000 Subscribers in Xian
05/19/2000 UTStarcom Signs Contracts Valued at $9.0 Million For Wireless Access PAS
05/03/2000 UTStarcom Signs New $12 Million Contract to Install PAS in Jiangmen
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Now this was a $68 dollar stock on Day 1, so it's lost 2/3 of its cap. Fresh earnings will be out about 7/27 and within a week of that, downward influence may be felt as it reaches lockup expiration on 8/29. This is a major telecom in China that approaches profitability with many millions of Chinese yet to be reached as it grows. Long term or short term, this will produce impressive gains.
Buy it and hold it a month or 5 weeks at least; its value is unquestioned.
Message 13933121
If that doesn't convince, how about this vote of confidence from an astute billionaire yesterday?
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