PEKING (dpa-AFX) - UTStarcom Holdings Corp. (UTSI) announced that its third-quarter net income attributable to shareholders was $8.0 million, or basic earnings per share of $0.05, compared to a net loss of $17.2 million, or basic loss per share of $0.13, for the corresponding period of 2010.
Total revenues increased 35.7% to $83.3 million in the third quarter of 2011 from $61.4 million for the corresponding period of 2010.
The company reiterated its fiscal year 2011 outlook. The company still expects total revenues to be in the range of $300.0 million to $320.0 million, which includes PAS deferred revenue through the end of 2011 at the rate of $23.0 million per quarter;Annualized operating expenses to be less than $100.0 million; Break even in 2011 on a full-year basis.
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