UTStarcom posted net sales of $475.9 million for its first fiscal quarter of 2007. Gross margins for the first quarter 2007 were 15.8% and net loss for the quarter was $54 million, or a loss of ($0.45) per share.
“Although we are disappointed with our first quarter results, as we begin to look forward, we are encouraged by the number of new contracts and new customers we signed recently as well as the momentum of our core businesses, particularly for IPTV in China and India,” stated Fran Barton, Chief Financial Officer of UTStarcom
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