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| UTStarcom, Inc. |
| 1275 Harbor Bay Parkway, Suite 100, Alameda, CA 94502 * (510) 864-8800 |
| Business Description | The company provides communications equipment for service providers that operate wireless and wireline networks in rapidly growing communications markets. |
| Offering Information Company has | |||
| Trading As | UTSI (NASNTL) | Industry | Telecommunications (SIC 3661) |
| Type of Stock Offered | Common Shares | Filing Date | 12/20/99 |
| Domestic Shares Offered | 10,000,000 | Offer Date | 3/2/00 |
| Foreign Shares Offered | 0 | Filing Range | $16.00 - $18.00 |
| Company Shares | 10,000,000 | Offer Price | $18.00 |
| Selling Shrhldrs Shares | 0 | Gross Spread | $1.260 |
| Gross Proceeds | $180,000,000 | Selling | $0.750 |
| Expenses | - - | Reallowance | $0.100 |
| Post-IPO Shares | 89,300,000 | Employees | - - |
| Primary Underwriting Group | ||
| Underwriter Name | Participation | Underwriter Phone |
| Merrill Lynch & Co. | Lead Manager | (212) 449-4600 |
| Banc of America Securities LLC | Co-manager | (415) 627-2100 |
| U.S. Bancorp Piper Jaffray | Co-manager | (612) 342-6220 |
| Income Statement and Cash Flow Summary | |||||||
| Prior Audited Income |
Latest Unaudited Income | ||||||
| Full Year Audited Figures | 9 Months Ending | ||||||
| Figures in U.S. millions except per share data | 12/31/94 | 12/31/95 | 12/31/96 | 12/31/97 | 12/31/98 | 9/30/98 | 9/30/99 |
| Revenues | 3.941 | 10.006 | 35.542 | 75.597 | 105.167 | 79.878 | 124.701 |
| Income from Oper. | -0.512 | -8.979 | 1.237 | -2.677 | 3.874 | 4.977 | 11.805 |
| Net Income | -0.487 | -9.841 | -0.310 | 0.390 | 0.473 | 2.506 | 10.236 |
| E.P.S | -0.180 | -2.400 | -0.040 | 0.050 | 0.060 | 0.320 | 1.190 |
| Revenue Growth (%) | 153.89 | 255.21 | 112.70 | 39.115 | 56.11 | ||
| Net Income Growth (%) | - | - | - | 21.28 | 308.46 | ||
| Oper. Profit Margin (%) | - | - | 3.48 | - | 3.68 | 9.47 | 6.23 |
| Net Profit Margin (%) | - | - | - | 0.52 | 0.45 | 8.21 | 3.14 |
| Cash Flow - Oper. | -46.44 | -48.96 | 2.17 | ||||
| Cash Flow - Inv. | -1.69 | -1.40 | -2.03 | ||||
| Cash Flow - Fin. | 34.52 | 34.06 | 17.15 | ||||
| Balance Sheet Summary and Financial Ratios | |||||
| Balance sheet as of: 9/30/99 | Financial Ratios | ||||
| Total Assets | 176.68 | Current Assets | 158.32 | Current Ratio | 1.70 |
| Total Liab. | 96.76 | Current Liab. | 92.86 | Debt Ratio | 54.76% |
| Total Equity | 79.92 | Working Cap. | 65.46 | Debt to Equity Ratio | 1.21 |
| Cash | 35.28 | Return on Assets | 5.79% | ||
| Use Of Proceeds |
The proceeds from the proposed offering will be used for general corporate purposes including research and development, expansion of our sales and marketing organization and working capital. |
| Legal Counsel Registrar Auditor | |
| Issuer's Law Firm | Wilson, Sonsini, Goodrich & Rosati |
| Bank's Law Firm | Shearman & Sterling |
| Registrar/Transfer Agent | Boston Equiserve Limited Partnership |
| Auditor | Pricewaterhouse Coopers LLC |
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| Principal Shareholders | ||
| Name of Shareholder | % Owned Before | % Owned After |
| Entities affiliated with SOFTBANK CORP. | 59.40 | |
| Ying Wu | 7.70 | 0.00 |
| Chauncy Shey | 6.90 | |
| Intel Pacific, Inc. | 6.20 | |
| Note: represents ownership of 5% or more prior to the offering. | ||