http://www.fool.com/News/mft/2005/mft05050612.htm?ref=btpShooting Starcom (Again)By Stephen D. Simpson, CFA May 6, 2005 The gang that couldn't shoot straight has struck again, shooting investors in their wallets. Network and handset provider UTStarcom (Nasdaq: UTSI) delivered a surprising first quarter and then topped it off by announcing a restructuring and chilling guidance for the next quarter. For the first quarter, reported results seem pretty good. Revenue climbed 45% to more than $900 million, and the company reported earnings of $0.29 per share -- both of which were well ahead of the Wall Street estimates. What's more, management reported that 75% of revenue came from outside of China -- an important factoid for a company that desperately needed to diversify its revenue base...
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