UTStarcom reported Q2 net sales of $723.0 million, an increase of 5%over net sales of $689.6 million reported in Q2 2004. The Personal Communications Division contributed $342.3 million of sales in the second quarter. There was a net loss (GAAP) of $74.7 million, or ($0.65) diluted earnings per share, including special charges. Some highlights:
- Gross profit margin was 15.1 percent of sales, which was negatively impacted by an inventory write-down of approximately $5.5 million, associated with the company’s restructuring plan.
- Q2 backlog of approximately $915M at the end of the quarter
- Signed more than $250 million in PAS contracts in China in Q2
- Positive cash flows from operations of approximately $44 million
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