UTStarcom Holdings Q2 Net Loss Widens - Quick Facts

(RTTNews) - UTStarcom Holdings Corp. (UTSI) reported that net loss attributable to shareholders for the second quarter of 2013 widened to $2.1 million, from $1.8 million for the corresponding period in 2012. Basic loss per share for the second quarter of 2013 was $0.05, compared to basic loss per share of $0.04 for the second quarter of 2012.

Non-GAAP net loss attributable to shareholders for the second quarter of 2013 was $2.1 million, compared to non-GAAP net loss of $7.3 million for the corresponding period in 2012.

Non-GAAP basic loss per share for the second quarter was $0.05, compared to non-GAAP basic loss per share of $0.15 last year.

Total revenues for the second quarter of 2013 were $47.7 million, a decrease of 15.5% from $56.5 million for the corresponding period in 2012. Non-GAAP total revenues for the second quarter of 2013 were $47.4 million, an increase of 19.0% from $39.9 million for the corresponding period in 2012.

Looking ahead, the company currently remain comfortable with its operating expectations for full year 2013.

The company continues to expect profit from the new TV over IP services to become the major contributor for UTStarcom by 2015, as the new TV over IP business is expected to have gross margin exceeding 50%.