UTStarcom Reports Decreased Mid-Year Financials

UTStarcom (UTSI) has released an update.

UTStarcom, a global telecom infrastructure provider, reported decreased revenues and gross profit in the first half of 2024 compared to the previous year, attributing the decline to lower sales in Japan and the completion of projects in India. Despite a reduction in operating expenses due to personnel cuts, the company still faced an operating loss, although it managed to reduce the loss from the first half of the previous year. The company also secured new expansion orders in Europe and India and collected a significant portion of its outstanding receivables from a major Indian customer.

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