UTStarcom (UTSI) Misses Q4 EPS by 1c, Revenues Beat; Offers Q1 Revenue Giodance

UTStarcom (NASDAQ: UTSI) reported Q4 EPS of ($0.03), $0.01 worse than the analyst estimate of ($0.02). Revenue for the quarter came in at $12.7 million versus the consensus estimate of $12.5 million.

UTStarcom’s Chief Executive Officer Mr. Tim Ti commented, “We are pleased with our strong execution in 2018. We achieved year-over-year revenue growth of 18%, maintained profitability in a competitive environment, secured key project wins in India and introduced advanced products that have strengthened our competitive position. Fourth quarter revenue was within our guidance, and gross margin increased more than 20 percentage points, driven by favorable product and geographic mix.”

Ti continued, “We are committed to investing in R&D to develop new products, enabling network operators to meet the challenges of growing network traffic generated by new technology trends such as internet of things and 5G mobile data. We are especially excited about the 5G opportunity, as network operators around the globe begin this massive rollout, which will require wholesale upgrades of network architectures. UTStarcom is positioned to benefit from 5G. In 2019, we will drive more product development and marketing effort, which will set us up for solid growth in 2020 and beyond.”

GUIDANCE:

UTStarcom sees Q1 2019 revenue of $20-25 million.

For earnings history and earnings-related data on UTStarcom (UTSI) click here.

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