UTStarcom Holdings Corp. reported unaudited consolidated earnings results for the first quarter ended March 31, 2013. Total revenues for the first quarter of 2013 were $37.2 million, a decrease of 20.3% from $46.7 million for the corresponding period in 2012. Non-GAAP total revenues for the first quarter of 2013 were $36.7 million, a decrease of 6.9% from $39.4 million for the corresponding period in 2012. Operating loss for the first quarter of 2013 was $3.7 million, compared to operating loss of $3.8 million for the corresponding period in 2012. Non-GAAP operating loss for the first quarter of 2013 was $3.7 million, compared to non-GAAP operating loss of $1.8 million for the corresponding period in 2012. Net loss attributable to UTStarcom's shareholders for the first quarter of 2013 was $5.0 million, compared to net loss attributable to UTStarcom's shareholders of $4.2 million for the corresponding period in 2012. Basic loss per share for the first quarter of 2013 was $0.13, compared to basic loss per share of $0.08 for the first quarter of 2012. Non-GAAP net loss attributable to UTStarcom's shareholders for the first quarter of 2013 was $5.0 million, compared to non-GAAP net loss attributable to UTStarcom's shareholders of $2.1 million for the corresponding period in 2012. Non-GAAP basic loss per share for the first quarter of 2013 was $0.13, compared to non-GAAP basic loss per share of $0.04 for the first quarter of 2012. Loss before income taxes was $4.117 million against $2.780 million a year ago. Net cash used in operating activities was $4.680 million against $14.718 million a year ago. Additions to property, plant and equipment was $1.837 million against $2.446 million a year ago. Non-GAAP net cash used in operating activities was $4.680 million against $10.815 million a year ago.

UTStarcom Holdings Corp., Q1 2013 Earnings Call, May 24, 2013

UTStarcom Holdings Corp. announced the Company received a formal notice from NASDAQ that it has regained compliance with Listing Rule 5450(a)(1) as a result of the closing bid price of the Company's ordinary shares being at $1.00 per share or greater for the last 11 consecutive business days.

UTStarcom Holdings Corp. reported unaudited consolidated financial results for the fourth quarter and full year ended December 31, 2012. For the quarter, the company revenues of $43.3 million, a decrease of 48.2% year-over-year from $83.5 million for the corresponding period of 2011. Non-GAAP total revenues were $41.0 million, a decrease of 13.0% year-over-year from $47.1 million for the corresponding period of 2011. Operating loss was $3.0 million, compared to operating income of $8.5 million for the corresponding period of 2011. Non-GAAP operating loss was $3.6 million, compared to non-GAAP operating income of $1.8 million for the corresponding period of 2011. Net loss attributable to the company's shareholders was $6.4 million or $0.05 per basic share against net income attributable to the company's shareholders of $4.1 million or $0.03 per basic share a year ago. Non-GAAP net loss attributable to the company's shareholders was $6.7 million or $0.02 per basic share against non-GAAP net income attributable to the company’s shareholders of $2.7 million or $0.02 per basic share a year ago. Net cash used by operating activities was $6.4 million against $0.152 million a year ago. Non-GAAP net cash used by operating activities was $6.363 million against non-GAAP net cash provided by operating activities of $5.277 million a year ago. Additions to property, plant and equipment was $0.335 million against $1.626 million a year ago. For the year, the company reported revenues of $186.7 million, a decrease of 41.8% year-over-year from $320.6 million for the corresponding period of 2011. Non-GAAP total revenues were $157.3 million, a decrease of 12.2% year-over-year from $179.1 million for the corresponding period of 2011. Operating loss was $31.4 million, compared to operating income of $21.2 million for the corresponding period of 2011. Non-GAAP operating loss was $14.8 million, compared to non-GAAP operating income of $10.3 million for the corresponding period of 2011. Net loss attributable to the company’s shareholders was $33.2 million or $0.23 per basic share against net loss attributable to the company’s shareholders of $13.4 million or $0.09 per basic share a year ago. Non-GAAP net loss attributable to the company’s shareholders was $16.4 million or $0.05 per basic share against non-GAAP net loss attributable to the company’s shareholders of $2.5 million or $0.11 per basic share a year ago. Net cash used in operating activities was $25.618 million against $41.717 million a year ago. Additions to property, plant and equipment was $5.445 million against $9.347 million a year ago. Non-GAAP net cash used by operating activities was $11.377 million against $16.680 million a year ago.

UTStarcom Holdings Corp. will hold an extraordinary general meeting of its shareholders on March 21, 2013 to vote on a plan to effect a 3:1 reverse share split with the goal of increasing the liquidity of the shares and increase the trading price per share. On March 15, 2013, the Company received formal notice from NASDAQ that it was not in compliance with the listing requirements relating to the price per share at which the Company’s shares trade. The Company has 180 days to regain compliance with the listing standards. The Company expects the reverse share split to increase the trading price and bring the Company into compliance.