UTStarcom reported Q3 net sales of $645.0 million, an increase of 10% over net sales of $584.4 million reported in the third quarter of 2003. GAAP net income for the third quarter of 2004 was $5.0 million, or $0.04 per share. This compares to net income of $59.1 million, or $0.46 per share, for the third quarter of 2003. Some highlights:
- Q3 gross margins were 21.3%
- Q3 international bookings of $200 million and $600 million September
- UTStarcom PAS subscribers in China reached approximately 34 million at the end of Q3, with total PAS subscribers in China estimated at approximately 60 million
- More than 6.5 million lines of IP-DSLAM have been deployed globally to date
- More than 55 million lines of mSwitch have been deployed globally to date.
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