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-UTStarcom posts unaudited Q2 results.

INTERNET BUSINESS NEWS-(C)1995-2012 M2 COMMUNICATIONS

China-based network solutions provider for cable and telecom operators UTStarcom Holdings Corp. (NASDAQ: UTSI) has released its unaudited financial results for the second quarter ended June 30, 2012.

The company said its second quarter of 2012 net sales on an adjusted basis decreased 17.9% year over year to USD 56.5m, compared to USD 68.7m of adjusted net sales in the second quarter of 2011 excluding USD 23.8m amortization of Personal Handy-phone System ("PHS") deferred revenue (a non-GAAP measure).

UTStarcom's second quarter of 2012 gross profit on an adjusted basis decreased 18.1% year over year to USD 21.7m, compared to USD 26.5m of adjusted gross profit in the second quarter of 2011 excluding USD 8.3m gross profit related to amortized PHS deferred revenue.

Second quarter 2012 gross profit as a percentage of net sales, or gross margin, was 38.5% compared to adjusted gross margin of 38.6% in the second quarter of 2011 excluding PHS deferred revenue amortization.

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Publication:Internet Business News
Article Type:Financial report
Date:Aug 14, 2012
Words:195
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