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And the price-to-earnings ratio for the average telecommunications stock is 59 percent higher than the P/E for the Standard & Poor's 500-stock index.
Financial stocks have plummeted 26percentt, on average; telecommunications stocks are down 21percentt; and technology shares are down 14percentt.
According to Morningstar, the average technology fund fell 7.3percentt in the quarter, while the average telecommunications fund sank 13.2percentt.
This year, the average telecommunications mutual fund is down 6.7percentthroughgh Thursday, compared with the 1.3percentt drop of the Standard & Poor's 500-stock index, according to Morningstar Inc.
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Moreover, the company's stock is valued at 12.8 times estimated earnings for the next 12 months, or about 15 percent higher than the average European telecommunications company, according to Thomson Reuters.
The average unionized telecommunications worker makes $42,000.
UTSI's return on assets is 7.6%, compared to a 1.7% average for the telecommunications industry.
From 1998 to 2001, Mr. Galbraith found that share growth owing to options and acquisitions averaged 16.5percentt annually at telecommunications concerns and almost 8percentt at utility companies.
Before the European auctions for third-generation licenses -- which could total $130 billion -- the ratio of capital expenditure to sales for major telecommunications companies averaged 15percentt and was declining, Mr. Lambert said.
Among the deals the firm has completed over the last couple of years are the purchase of a 20percentt stake in DPL, an Ohio utility, for $550 million, and investments in six telecommunications companies, averaging just $100 million to $200 million each.
Second, telecommunications activity averaged over a larger (3times3) window performs better than the (1times1) interpolation.
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