UTStarcom Raises its 2004 Guidance

UTStarcom raised its revenue guidance for 2004. The new 2004 financial guidance is as follows:

Revenue of $2.5-$2.55 billion, an increase of $50-$100 million, versus previous guidance of $2.4-$2.5 billion
Gross Margin guidance remains 30%-32%
Increase in Operating Income of $15-$30 million
Impact of the equity offering — 12.1 million additional shares — Interest income of $7 million — $0.10 EPS dilution
Increase in Net Income of $15-$25 million
GAAP EPS guidance of $1.87-$1.92 versus previous guidance of $1.92-$1.95

http://www.utstar.com

On 08-Jan-2004, UTStarcom agreed to sell 12.1 million shares of its common stock to Banc of America Securities. The company also granted Banc of America Securities an over-allotment option to purchase an additional 1.8 million shares of its common stock.

Staff

Editor & Publisher

Every article published by Converge Digest is researched, curated, fact-checked and editorially reviewed by Jim Carroll, Editor & Publisher. AI-assisted drafting may be used to accelerate production, but all content is reviewed, refined and approved prior to publication.