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To: SusieQ1065 who wrote (81)	10/24/2001 10:01:13 PM
From: SusieQ1065	Read Replies (1) \| Respond to of 238

UTSI ($20-$22) P/E 50..beats by 2 cents..rev's come in higher.. UTStarcom Announces Record Third Quarter Results Quarterly Revenues Up 59% Year Over Year and 22% sequentially ALAMEDA, Calif., Oct. 23 /PRNewswire/ -- UTStarcom, Inc. (Nasdaq: UTSI - news) today reported its third quarter 2001 results for the period ended September 30, 2001. (Photo: newscom.com ) Net sales for the third quarter of 2001 increased to $170.5 million, a 59% increase over the $107.4 million in net sales reported in the prior year period. Year to date sales rose to $429.7 million as compared to $241.6 million in the same period in 2000. Pro forma net income (excluding non-cash charges for stock compensation and amortization) for the third quarter of 2001 increased to $21.7 million, or $0.20 per share, as compared to $15.5 million, or $0.15 per share in the prior year period. Year to date, Pro forma net income (excluding non-cash charges for stock compensation and amortization) was $49.0 million, or $0.46 a share, as compared to $27.1 million, or $0.27 per share for the same period in 2000. ``Once again, we've completed another very successful quarter with record revenues and profits by delivering leading edge telecommunications products which are helping our customers in Mainland China and in International markets increase their subscribers, revenues and profits,'' said Mike Sophie, Chief Financial Officer of UTStarcom, Inc. Actual net income (including stock compensation expense, amortization of intangible assets, in-process research and development costs and beneficial conversion feature) for the third quarter of 2001 was $18.8 million, or $0.17 per share compared to net income of $12.4 million, or $0.12 per share for the third quarter of 2000. Year to date actual net income (including stock compensation expense, amortization of intangible assets, in-process research and development costs and beneficial conversion feature) was $40.4 million, or $0.38 per share as compared to $13.1 million, or $0.13 per share in the prior year period. ``Not only are we intent on delivering strong short-term results, but we are also focused on the long-term,'' said Hong Lu, President and CEO of UTStarcom Inc. ``We continue to introduce new products to market, such as our IP DSLAM product this quarter, in which our technology is aimed at helping the telecom service providers offer IP-based broadband services. '' Conference Call UTStarcom will conduct a conference call on Tuesday October 23 at 1:30 p.m. (PDT), which is open to the public. The conference call dial-in numbers are: United States -- 888-276-0010; International -- 612-288-0337. A replay of the call will also be available from approximately 5:00 p.m. (PDT) on October 23, to 5:00 p.m. (PDT) on October 30. The conference call replay numbers are: United States -- 800-475-6701; International -- 320-365-3844. The access code is 607367. Investors will also have the opportunity to listen to the conference call and the replay over the Internet through UTStarcom's Investor Relations web site at: utstarcom.com. To listen to the live call, please go to the website at least 15 minutes early to register, download and install any necessary audio software.