Ditech Networks Posts Revenue of $21.1 Million

Ditech Networks reported quarterly revenue of $21.1 million, an increase of $10.6 million, or 101%, from revenues of $10.5 million in the same quarter of the prior fiscal year and down $0.5 million, or 2%, from revenues of $21.6 million in the preceding quarter. International revenues were $7.2 million, an increase of $5.2 million from $2.0 million in the same quarter of the prior fiscal year and up $0.5 million from revenues of $6.7 million in the first quarter of fiscal 2007.



GAAP net income for the quarter was $1.1 million, an increase compared to the GAAP net loss of $1.4 million in the same quarter of the prior fiscal year and a decrease compared to the GAAP net income of $1.5 million in the first preceding quarter.



"We made progress in the quarter, demonstrating that Ditech's voice solutions make a difference to prospective customers we are targeting," said Tim Montgomery, president and CEO of Ditech Networks. "However, we are disappointed in missing our revenue projection. We fell short due to delays in a few significant transactions."http://www.ditechnetworks.com