ALAMEDA, Calif., Feb 09, 2004 /PRNewswire-FirstCall via Comtex/ -- UTStarcom, Inc. (Nasdaq: UTSI), a global leader in IP access networking and services, today announced that the company was named to Forbes' "25 Fastest Growing Technology Companies" list for the second straight year. The list will be featured in the magazine's February 16 issue.
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"UTStarcom is once again very honored to be named to such a prestigious list of successful companies," said Hong Lu, president and chief executive officer at UTStarcom. "The company has experienced tremendous growth over the last several years with 16 quarters of revenue and earnings growth since our initial public offering in March 2000. Our products have proven to be successful in China and that success positions us extremely well for success in other emerging and established markets globally."
Forbes staff members' research more than 2,500 publicly traded U.S. technology stocks for the annual feature. Editors researched companies with outstanding five-year annualized sales growth, as well as consistent year-over-year sales growth of 10 percent or more in the same period. Researchers also looked for profitable firms with minimum revenues of approximately $25 million. All research was based on information received from FT Interactive Data, Reuters Fundamentals, Thomson First Call, FactSet Research Systems and Bloomberg Financial Markets.
To access the list online, please direct your Web browser to http://www.forbes.com/free_forbes/2004/0216/104tab1.html .
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.
For more information about UTStarcom, visit the company's Web site at www.utstar.com.
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