UTStarcom Says FY23 Revenues Rises 12.1% YoY To $15.8M, Company Exits FY23 With Cash & Equivalents Worth $59.6M
Portfolio Pulse from Benzinga Newsdesk
UTStarcom reported a 12.1% increase in FY23 revenues, reaching $15.8M. The company also announced it ended the fiscal year with $59.6M in cash and equivalents.
March 22, 2024 | 10:28 am
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UTStarcom reported a 12.1% increase in FY23 revenues to $15.8M and ended the year with $59.6M in cash and equivalents.
The reported increase in revenues and a strong cash position at the end of FY23 are positive indicators of UTStarcom's financial health and operational success. These factors are likely to be viewed favorably by investors, potentially leading to a positive short-term impact on UTSI's stock price.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100