Key Developments: Utstarcom Inc (UTSI.O)
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Latest Key Developments (Source: Significant Developments)
Utstarcom Inc Appoints New Chief Financial Officer
Utstarcom Inc announced that it has appointed Mr. Tianruo (Robert) Pu, Chairman of the Company's Audit Committee and an independent director of the Board, as the Company's Chief Financial Officer, effective immediately. Mr. Pu replaces Ms. Jin Jiang, who has resigned to pursue other opportunities. Full Article
Utstarcom Inc Announces Completion Of Divestiture Of IPTV Business And Senior Management Change
Utstarcom Inc announced that on August 31, 2012 the Company successfully Completed the previously announced divestiture of its IPTV business. Simultaneous with the closing, Mr. William Wong has assumed the positions of UTStarcom's Chief Executive Officer (CEO) and director on the Board of Directors. In addition, Mr. Xiaoping Li, Lead Independent Director, has been elected as Chairman of the Board by the Directors of the Company. UTStarcom announced its intention to divest its IPTV equipment business on July 27, 2012 . With the closure of the divestiture, the IPTV equipment business has become a privately-held, standalone company. Upon meeting the requirements for discontinued operations, UTStarcom will report results from the IPTV division separately as discontinued operations in the third quarter of 2012 and for all comparable periods. Also, Mr. Jack Lu has left UTStarcom as planned in order to lead the IPTV equipment business. Mr. Lu has also resigned from the Company's Board of Directors. Mr. William Wong assumed the CEO position in line with a previously announced management transition that temporarily named him as Chief Operating Officer. He also served on UTStarcom's Board from September 2010 until December 2011. Full Article
Utstarcom Inc Comments On FY 2012 Charge Guidance
Utstarcom Inc announced that it does not expect to incur significant additional restructuring charges in fiscal 2012 related to previous restructuring plans. Full Article
UTStarcom Holdings Corp Receives Sri Lanka Telecom IPTV Expansion Contact
UTStarcom Holdings Corp announced that it has won a contract from Sri Lanka Telecom Sri Lanka's integrated communications, broadband and backbone infrastructure services provider, to supply set-top boxes for the telecom operator's IPTV system expansion. UTStarcom's set-top boxes, which are part of the Company's RollingStream end-to-end IPTV solution, will enable SLT to provide a number of interactive media services, including Live HDTV, Time Shift TV and Video-on-Demand, to its customers. Full Article
UTStarcom, Inc. Comments On FY 2012 Revenue Guidance-Conference Call
UTStarcom, Inc. announced that in fiscal 2012, it is expecting a healthy revenue growth. Full Article
UTStarcom, Inc. Signs IPTV Broadcasting Control Platform Contract In Chongqing
UTStarcom, Inc. announced that it has won a contract from Chongqing Radio and Television Group to build an integrated IPTV broadcasting control platform. The new broadcasting control platform can support the content management and distribution needs of IPTV, Internet TV and mobile TV. The Company will deliver a packaged solution that includes software and infrastructure development, content delivery network (CDN) support, and IPTV, Internet TV and mobile TV integration support. Full Article
UTStarcom, Inc. Appoints CEO As New Chairman
UTStarcom, Inc. announced that on December 22, 2011 the Company's board of directors (the "Board") appointed Mr. Jack Lu, Chief Executive Officer (CEO) of UTStarcom, as Chairman of the Board, effective March 31, 2012. Mr. Lu will succeed Mr. Thomas Toy, who has resigned as a member and chairman of the Board, effective March 31, 2012. Mr. Toy will remain with the Company in an advisory role for a period of six months following the effective date of his resignation. Full Article
UTStarcom, Inc. To Provide Broadband And Telecom Solutions To Affordable Housing Development In Beijing E-town Area
UTStarcom, Inc. announced that it has entered into a strategic cooperation agreement with Beijing BDA Network and Information Co., Ltd. (BBNI)to provide broadband solutions and comprehensive telecom technology services for a new affordable housing development in Beijing. Full Article
UTStarcom, Inc. Reaffirms FY 2011 Revenue Guidance
UTStarcom, Inc. reiterated fiscal 2011 guidance and expects revenue to be in the range of $300.0-$320.0 million. Full Article
UTStarcom, Inc. Wins EPON Contract To Support Smart Grid In Ningxia Province Date
UTStarcom, Inc. announced that it has won an Ethernet Passive Optical Network (EPON) contract to strengthen Ningxia Electric Power Company's (Ningxia Electric) integrated electric distribution system and communication platform. UTStarcom's EPON solution helps electric companies build high-and reliable communication channels. In addition, it collects data and provides optical fiber to end users to meet the various business needs of customers. The Company plans on booking this equipment-based sale in the third quarter of 2011. Full Article
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