UTStarcom reported Q4 net sales of $643.6 million, an increase of 114% over net sales of $301.1 million reported in the fourth quarter of 2002. Full-year net sales increased to $1.96 billion, an increase of 100% over net sales of $981.8 million reported in 2002. Net income for the fourth quarter of 2003 was $66.4 million, or $0.52 per share.
The period marked the 16th quarter of record revenues and profitability since the company’s IPO in March 2000.
Backlog at the end of 2003 was $1.06 billion, an increase of 75% over the $605.4 million backlog reported at the end of 2002.
