UTStarcom Announces $47 Million in Contracts For Its PAS(TM) Systems With China Telecom
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ALAMEDA, Calif., Sep 3, 2002 /PRNewswire-FirstCall via COMTEX/ -- UTStarcom Inc., (Nasdaq: UTSI), a leading global provider of wireless, wireline and broadband access solutions, today announced that it has signed contracts with China Telecom valued at approximately $47 million for new and expansion of its PAS(TM) equipment in Southern China.
(Photo: newscom.com )
"The continued growth of PAS with China Telecom demonstrates PAS as a more cost effective solution than copper for local operators of China Telecom to deploy their services," said Hong Lu, CEO of UTStarcom Inc. "We believe PAS will drive 20% to 30% of added fixed line subscribers this year in China and gives the operators twice the monthly ARPU of copper. In turn, operators are seeing an increase in revenues and quick return on investment, which translates into more business for UTStarcom. We firmly believe that contracts such as these are indicative of the fixed-line operators' long-term commitment to the PAS technology as an extension of their fixed-line service."
About UTStarcom Inc.
UTStarcom designs, manufactures, sells and installs an integrated suite of future-ready access network and next-generation switching solutions. We enable wireless and wireline operators in fast-growth markets worldwide to offer voice, data, and Internet access services rapidly and cost-effectively by utilizing existing infrastructure.
UTStarcom's products provide a seamless migration from wireline to wireless, from narrowband to broadband, and from circuit- to packet-based networks by employing "Next Generation Network Technology. Now."
The Company's customers are public telecommunications service providers that operate wireless and wireline voice and data networks in rapidly growing communications markets around the world.
Founded in 1991 and headquartered in Alameda, California, the Company manufactures the majority of its products at two ISO9002 certified facilities located in China, and maintains sales and customer support sites throughout Mainland China and in Iselin, NJ; Alameda, CA; Miami, FL; Taipei, Taiwan; Hong Kong; Tokyo; Tel Aviv, Israel and New Delhi, India.
For more information about UTStarcom, visit the Company's website at www.utstar.com .
PAS, AN-2000, WACOS and the UTStarcom name and logo are trademarks of UTStarcom, Inc. and its subsidiaries.
Forward-Looking Statements
The foregoing statements regarding the deployment of PAS(TM) systems within the twelve provinces in China, the expected revenue from the expansion contracts for its PAS(TM) access systems in those provinces, the demand for PAS(TM) systems and continued commitment by fixed-line operators to PAS(TM) technology are forward-looking in nature and subject to risks and uncertainties that may cause actual results to differ materially. These factors include rapidly changing technology, the changing nature of telecommunications, particularly in China, cancellations of key partnerships and alliances, the direction of future research and development efforts, evolving product and applications standards, delays in the deployment of the PAS(TM), general demand for and acceptance of the Company's products, non-recognition of backlog and uncertainties such as changes in government regulation or licensing requirements, particularly in China. The Company also refers readers to the risk factors identified in its latest Registration Statement on Form S-3, Annual Report on Form 10-K and Quarterly Reports on Form 10-Q as filed with the Securities and Exchange Commission.
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SOURCE UTStarcom Inc.
Michael J. Sophie, Vice President of Finance, CFO,
+1-510-749-1510, or Chesha Kamieniecki, Investor Relations Manager,
+1-510-749-1560, both of UTStarcom Inc.
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