ALAMEDA, Calif.-UTStarcom Inc. said it will file a request with the Securities and Exchange Commission to delay its annual report for 15 days. The company said the delay would give it time to tabulate the financial effect of “a related party” as well as the assessment of “internal controls” as stated under the Sarbanes Oxley Act of 2002.
The move comes as UTStarcom is also in the process of restating its 2003 and 2004 financial results.
The company’s stock was down slightly after the news to about $12.97 per share.
