UTStarcom, Inc. (Nasdaq: UTSI - message board), a global leader in IP-based, end-to-end networking solutions and services, today reported financial results for the first quarter of 2007. The Company also announced it expected to file its financial results for the second quarter of 2007 as soon as practicable, at which time the Company will host a conference call with investors to discuss both first and second quarter results.

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Net sales for the first quarter 2007 were $475.9 million. Gross margins for the first quarter 2007 were 15.8% and net loss for the quarter was $54 million, or a loss of ($0.45) per share.

"Although we are disappointed with our first quarter results, as we begin to look forward, we are encouraged by the number of new contracts and new customers we signed recently as well as the momentum of our core businesses, particularly for IPTV in China and India," stated Fran Barton, Chief Financial Officer of UTStarcom, Inc.