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Business Description
UTStarcom, Inc. designs, manufactures and sells telecommunications equipment and products, and provides services associated with their operation. Its products and technologies, which are based on global communications standards, fall into three major categories: Wireless, a technology that enables end users, or subscribers, to send and receive voice and data while mobile and using wireless devices; Wireline, a technology that satisfies customer demand for high-speed, cost-effective data, voice and media transport and carriage, and Switching, a diverse assembly of software- and hardware-based networking elements designed to replace central office telephone switches. The Company's products are deployed and installed exclusively by telecommunications wireless and wireline service providers. In November 2004, the Company acquired Audiovox Communications Corp., a cellular subsidiary of Audiovox Corporation.

Financial Information
For the nine months ended 9/30/04, net sales rose 48% to $1.96 billion. Net income fell 24% to $103.6 million. Revenues reflect continued growth in spending on telecommunications infrastructure in China. Earnings were offset by an increase in research and development charges and lower operating margins.