	December 31, 2015
	Previously Reported			Adjustment			Restated
	In thousands
ASSETS
Current assets:
Cash and cash equivalents	$	77,050		—			$	77,050
Accounts receivable, net of allowances for doubtful accounts of $4,564	17,936			—			17,936
Inventories	17,470			—			17,470
Deferred costs	25,499			—			25,499
Prepaids and other current assets	11,388			—			11,388
Short-term restricted cash	12,264			—			12,264

Total current assets	161,607			—			161,607
Property, plant and equipment, net	1,510			—			1,510
Long-term investments	26,022			(6,501		)	19,521
Long-term deferred costs	332			—			332
Long-term deferred tax assets	11,193			—			11,193
Other long-term assets	4,216			—			4,216

Total assets	204,880			(6,501		)	198,379

LIABILITIES AND EQUITY
Current liabilities:
Accounts payable	16,400			—			16,400
Income taxes payable	9,906			—			9,906
Customer advances	30,976			—			30,976
Deferred revenue	16,965			—			16,965
Deferred tax liabilities	9,779			—			9,779
Other current liabilities	13,763			—			13,763

Total current liabilities	97,789			—			97,789
Long-term deferred revenue	8,554			—			8,554
Other long-term liabilities	8,259			—			8,259

Total liabilities	114,602			—			114,602

Commitments and contingencies (Note 12)
UTStarcom Holdings Corp. shareholders’ equity:
Ordinary shares: $0.00375 par value; 250,000 authorized shares; 38,465 shares issued at December 31, 2015, respectively; 36,735 shares outstanding at December 31, 2015	122			—			122
Additional paid-in capital	1,259,767			—			1,259,767
Treasury stock, at cost: 1,730 shares at December 31, 2015	(4,138		)	—			(4,138		)
Accumulated deficit	(1,226,943		)	(6,501		)	(1,233,444		)
Accumulated other comprehensive income	61,470			—			61,470

Total UTStarcom Holdings Corp. shareholders’ equity	90,278			(6,501		)	83,777

Total liabilities and equity	$	204,880		$	(6,501	)	$	198,379

	Years ended December 31, 2015
	Previously Reported			Adjustment			Restated
	(In thousands, except per shares amounts)
Net sales
Products	$	87,361		—			$	87,361
Services	29,742			—			29,742

	117,103			—			117,103
Cost of net sales
Products	65,891			—			65,891
Services	23,344			—			23,344

Gross profit	27,868			—			27,868

Operating expenses:
Selling, general and administrative	21,515			—			21,515
Research and development	11,342			—			11,342
Total operating expenses	32,857			—			32,857

Operating loss	(4,989		)	—			(4,989		)

Interest income	557			—			557
Interest expense	(76		)	—			(76		)
Other income, net	3,489			—			3,489
Equity pick up of loss of associates	(13,954		)	—			(13,954		)
Investment Impairment	(9,846		)	(6,501		)	(16,347		)

Loss before income taxes	(24,819		)	(6,501		)	(31,320		)

Income tax benefit	4,162			—			4,162

Net loss	(20,657		)	(6,501		)	(27,158		)

Net loss attributable to non-controlling interests	—			—			—

Net loss attributable to UTStarcom Holdings Corp.	$	(20,657	)	$	(6,501	)	$	(27,158	)

Net loss per share attributable to UTStarcom Holdings Corp.—Basic and Diluted	$	(0.56	)	$	(0.18	)	$	(0.74	)

Weighted average shares outstanding—Basic and Diluted	37,003			37,003			37,003

	Years ended December 31, 2015
	Previously Reported			Adjustment			Restated
	(In thousands)
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$	(20,657	)	$	(6,501	)	$	(27,158	)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation	2,202			—			2,202
Net loss on disposal of assets	180			—			180
Reversal of tax payable	(7,747		)	—			(7,747		)
Equity pick up of losses of an associate	13,954			—			13,954
Investment Impairment	9,846			6,501			16,347
Gain on sale of short- term investment	(1,529		)	—			(1,529		)
Stock‑based compensation expense	1,546			—			1,546
Provision for doubtful accounts	79			—			79
Deferred income taxes	1,030			—			1,030
Assets impairment	(538		)	—			(538		)
Changes in operating assets and liabilities
Accounts receivable	(1,491		)	—			(1,491		)
Inventories and deferred costs	35,973			—			35,973
Other assets	1,558			—			1,558
Accounts payable	(12,233		)	—			(12,233		)
Income taxes payable	3,369			—			3,369
Customer advances	(17,352		)	—			(17,352		)
Deferred revenue	(18,610		)	—			(18,610		)
Other liabilities	(1,216		)	—			(1,216		)

Net cash used in operating activities	(11,636		)	—			(11,636		)

CASH FLOWS FROM INVESTING ACTIVITIES:
Additions to property, plant and equipment	(917		)	—			(917		)
Change in restricted cash	707			—			707
Purchase of investment interests	(1,670		)	—			(1,670		)
Proceeds from refund of investment interests	16,228			—			16,228
Proceeds from sale of short-term investments	3,076			—			3,076

Net cash provided by investing activities	17,424			—			17,424

CASH FLOWS FROM FINANCING ACTIVITIES:
Issuance of ordinary shares	39			—			39
Repurchase of ordinary shares	(3,695		)	—			(3,695		)

Net cash used in financing activities	(3,656		)	—			(3,656		)

Effect of exchange rate changes on cash and cash equivalents	(2,906		)	—			(2,906		)

Net decrease in cash and cash equivalents	(774		)	—			(774		)

Cash and cash equivalents at beginning of year	77,824			—			77,824

Cash and cash equivalents at end of year	$	77,050		—			$	77,050