ALAMEDA, Calif.-UTStarcom Inc. said its fourth-quarter earnings soared 100 percent over a year ago with a net income of $66.4 million, or 52 cents per share.
A year ago, the company recorded a net income of $33.9 million, or 30 cents per share.
Net sales rose 114 percent to $643.6 million compared with $301.1 million in the fourth quarter of 2002.
“Our continued ability to deliver market-leading products to our customers and value to our shareholders is a testament to the strength of our technological innovation and dedication,” said Hong Lu, chief executive officer of the company.
