UTStarcom Posts Q1 Revenue of $596.6 Million

UTStarcom reported Q1 net sales of $596.6 million. Gross margins for the first quarter were 20.5% and GAAP net loss for the quarter was $10.6 million, or a loss of ($0.09) per share. The company generated approximately $54 million of positive cash flow from operations and paid down approximately $27 million in short-term debt during the quarter.

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