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UTStarcom Reports Unaudited Financial Results For The First Quarter Of 2014

Stocks in this article: UTSI

- Reached $250 Million Sales Milestone for Packet Optical Transport Products -

- New Partnership and Contract Wins in Korea and India Bolster the Company's Strong Position in Asia -

- Innovative 100G TN765 Product and WiFi Offloading Solution Will be the Key Driver of Revenue Growth -

HONG KONG, May 15, 2014 (GLOBE NEWSWIRE) -- UTStarcom ("UTStarcom" or "the Company") (Nasdaq:UTSI), a global telecommunications infrastructure provider, today reported its unaudited financial results for the quarter ended March 31, 2014.

Mr. William Wong, UTStarcom's Chief Executive Officer, stated, "We are pleased with our first quarter performance which was generally within our internal expectations and ahead of our internal goals for the cost reduction. As mentioned last quarter, several new products are still in early stages of their product life cycle and are expected to become significant revenue contributors beginning in the later part of 2014. On the business and operating side, we continued to grow the high-end of our product portfolio, further set the stage for our global sales and marketing push, increased our engagement with prospective customers in new markets, and achieved a significant sales milestone of our core broadband products. Alongside these product developments, our WiFi data offloading solution continued to be very well received by carriers around the world. For example, our WiFi data offloading technology has been successfully deployed on the network of one of the largest operators in Japan. Other tier-one carriers are also discussing plans for large-scale rollout of WiFi data offloading, especially in the U.S. market. Moreover, we are developing next generation products that will tie our WiFi technology into our SDN offerings and give us a greater ability to package our broadband products and we are well positioned to participate in the wave of capital investments in this equipment as well as the value-added services that they enable."

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