UTStarcom, Inc. (UTSI)

[tasari]

Financial results 2020 is out :

2020 total revenues were $24.3 million, a decrease of 63% from $65.6 million in 2019.

2020 gross profit was $3.5 million, or 14.5% of net sales, compared to $24.2 million, or 36.8% of net sales, in 2019.

2020 operating expenses were $26.8 million, compared to $30.3 million in 2019.

Full year 2020 operating loss was $23.2 million, compared to $6.1 million in 2019.

Full year 2020 net interest income was $1.0 million, compared to $1.3 million in 2019.

Full year 2020 net loss attributable to shareholders was $23.7 million, compared to $3.9 million in 2019. 2020 basic net loss per share was $0.66, compared to $0.11 in 2019.

=> CASH !! This is really nice, they didn't need to use almost no cash !!

Cash used in operating activities in the second half of 2020 was $2.6 million, cash used in investing activities was $0.03 million, and cash used in financing activities was $0.2 million. As of December 31, 2020, UTStarcom had cash, cash equivalent and restricted cash of $48.4 million.


Like many companies the revenue went down a lot, but not 90%, only 63% !

https://www.otcmarkets.com/stock/UTSI/news/story?e&id=1847740