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Strategies & Market Trends : Technical analysis for shorts & longs

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Jan 30 4:00 PM EST

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To: Johnny Canuck who wrote (40870)	3/29/2004 9:56:05 AM
From: Johnny Canuck	Read Replies (1) of 70345

09:07 UTSI UTStarcom sees slightly higher than anticipated revenue, slight margin pressure (31.54 ) Co announces award of $85.7 mln in contracts with China Netcom for expansion/upgrades. UTStarcom also announced that as a result of the strong demand for its P.A.S. infrastructure and handsets, the co is guiding to slightly higher revenues, slight gross margin pressure, and reiterates GAAP EPS guidance for the first quarter of 2004. For qtr, co sees revs of approx. $600 mln (Reuters consensus $580.4 mln). "Gross Margin as a percentage of revenue is projected to be approximately 28 percent for the first quarter compared to previous guidance of approximately 30 percent. The revised gross margin guidance is primarily the result of continued weakness in the dollar versus Japanese Yen accounting for a reduction of approximately 100 to 150 basis points, requirements for more Yen purchases on critical components, as well as pressure on handset margins, which are currently running at approximately 20 percent." Co's EPS guidance remains unchanged at $0.38 for the qtr and $1.92-$1.94 for the yr (consensus $0.38 and $1.93).

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