The company says it has not drawn any conclusion or determined that it needs to make any bookkeeping corrections at this point. UTStarcom did say that due to the review it will miss the financial filing deadline for the third quarter.
UTStarcom says it has notified the Securities and Exchange Commission about the review.
Last month, the company hired Merrill Lynch to help pursue so-called strategic alternatives.
Shares of the Alameda, Calif., wireless tech shop rose a nickel to $10.28 in after-hours trading Tuesday.