UTStarcom Announces Continued Strong Bookings With China Telecom

UTStarcom announced a contract with Guizhou China Telecom, valued at approximately $30 million, for new deployments of its IP-based PAS in five cities in Guizhou province. UTStarcom now expects revenues in the range of $315 million for Q1 and $1.4 billion for the full-year 2003. This compares to previous guidance of $275 million and $1.325 billion, respectively. None of the above guidance reflects the pending CommWorks acquisition, as the transaction has not yet closed.
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