Prepaid phone cards, cheap calling cards online

Our online shop offers you phone cards for long distance calls. You can find the best rate to the international call and save many money. Buy only cheapest phone cards online in our shop.

Main Page Telecom News Enter Your Account / Register Buy Phone Card Best Rates FAQ and Help
International calls
call from
call to

UTStarcom posts massive loss


UTStarcom posted a $402.7 million loss for Q3 05 as it wrote off an enormous share of its assets value and dealt with declining revenues and an ongoing SEC investigation. The massive loss prompted the company to accelerate its restructuring process and announce the lay-offs of 500 employees.

UTStarcom reported $635 million, down 6% from last year`s third quarter. While slower sales contributed to its massive loss for the quarter, its majority was born by a $321.4 million charge related to impairment charges for overvalued assets, goodwill and other non-cash impairment expenses.

The vendor has been immersed in a restructuring effort since the first quarter as it cuts ties with older technologies used in its native China and tries to expands into global markets as well as pursue new businesses in China. Its goal is to reduce its working capital by $200 million and its operating expenses by $40 million (to about $140 million) per quarter.

Last month, UTStarcom revealed that it is the subject of an SEC inquiry into the company`s financial disclosures in previous quarters. At that time the company also lowered its Q3 revenue projections from between $660 million and $680 million to between $620 million to $640 million, which the company easily hit last quarter. UTStarcom said the revenue shortfall was due to Softbank failing to make a $40 million payment for IPTV equipment that quarter.


Related News

EarthLink posts Q2 loss
EarthLink reported a second-quarter loss today as its revenues fell to $312.2 million--down 6% compared to the same period last year--linked largely to a drop in subscribers and the company’s ailing joint wireless venture, Helio.Revenue from the consumer services...
Cogent trims loss, boosts revenue
Revenues were up and losses were down at Cogent Communications, which reported significant growth in corporate customers.According to Thomson First Call, however, the loss per share of 37 cents was two cents higher than analysts expected for the ISP. The total loss for...
Qwest positive despite growing loss
Qwest Communications is making significant progress toward sustainable profitability and should be profitable in 2006, Chairman and CEO Richard Notebaert told the investment community today.His comments came after the company reported a wider loss for the fourth...
US LEC grows customer base, loss
Virtually all of US LEC`s reporting metrics grew in 2005, including its revenue, customer base, employee headcount, network size and net loss, the company reported this week.US LEC reported a net loss of $55.5 million (or $1.83 per share) for 2005, a 55% increase from...
Calling Cards © 2008