Company Ranked Eighth in the 'Network and Other Communications Equipment'
Industry
ALAMEDA, Calif., March 29 /PRNewswire-FirstCall/ -- UTStarcom, Inc.
(Nasdaq: UTSI), a global leader in IP access networking and services, today
announced that the company was named to the FORTUNE 1000, the publication's
annual list of the nation's top performing companies. The list is featured in
the magazine's April 5 issue, which is available on newsstands today.
(Logo: http://www.newscom.com/cgi-bin/prnh/20031229/UTSLOGO )
"Inclusion on this esteemed list of the country's top-tier companies
represents a major milestone for UTStarcom," said Hong Lu, president and chief
executive officer at UTStarcom. "Since our initial public offering in March
2000, UTStarcom has established itself as a dominant telecommunications
equipment provider in China while continuing to gain momentum in developing
markets worldwide -- achieving more than four years of consistent financial
growth and market success. Being named to the FORTUNE 1000 is a testament to
UTStarcom's continued ability to deliver market-leading products to our
customers and value to our shareholders based on the strength of our
technological innovation."
All companies on the FORTUNE 500 and 1000 lists must publish financial
data and report part or all of their information to a government agency.
FORTUNE research staff reviews and verifies revenues, profits, assets,
stockholder's equity, market value, earnings per share, total return to
investors, and medians for the compilation of their 500 and 1000 directory.
Earnings per share data is verified by 10k filings and each company's annual
report, while total-return and market-value data is verified using information
provided by SunGard Market Data Services and FORTUNE staff. Data provided by
A.M. Best Co. and SNL Securities on mutual insurance companies, commercial
banks, savings banks and real estate investment trusts also aided the
verification process.
To learn more about the FORTUNE 500 and 1000 lists, please point your Web
browser to http://www.fortune.com.
About UTStarcom, Inc.
UTStarcom is a global leader in IP access networking solutions and
international service and support. The company sells its wireline, wireless,
optical and switching solutions to operators in both fast growth and
established telecommunications markets around the world. UTStarcom enables its
customers to rapidly deploy revenue-generating access services using their
existing infrastructure, while providing a migration path to cost-efficient
end-to-end IP networks. Founded in 1991 and headquartered in Alameda,
California, the company has research and design operations in New Jersey,
China, and India. UTStarcom is a FORTUNE 1000 company.
For more information about UTStarcom, visit the company's Web site at
http://www.utstar.com.
About FORTUNE
FORTUNE, part of Time Inc., is the global leader in business, known for
its unrivalled access to industry leaders and decision-makers throughout the
world. FORTUNE's European edition, based in London, is dedicated to covering
European business from a trademark global perspective. With a European
circulation of 100,000 and a worldwide circulation of 1,020,000, FORTUNE is
one of the fastest growing magazines in the world. Founded in 1930, FORTUNE
has grown to a worldwide circulation of over one million and a readership in
excess of five million.
SOURCE UTStarcom, Inc.
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Related links:
http://www.utstar.com
Photo Notes:
NewsCom:
http://www.newscom.com/cgi-bin/prnh/20031229/UTSLOGO
AP Archive: http://photoarchive.ap.org
PRN Photo Desk, photodesk@prnewswire.com
CONTACT:
Chesha Kamieniecki, Senior Manager of
Investor Relations of UTStarcom, Inc., +1-510-749-1560, or press,
Stephanie Gallagher of Engage PR, +1-510-748-8200, ext. 213, or
stephanie@engagepr.com, for UTStarcom, Inc.
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