Ditech Networks Q3 net loss narrows

Revenue down 27%

Ditech Networks, a telecommunications equipment supplier for voice networks, has posted a GAAP net loss of $3.8m, or $0.15 per share, for the fiscal 2009 third quarter, compared to a GAAP net loss of $19.7m, or $0.76 per share, in the same quarter of fiscal 2008.

Revenues for the third quarter of fiscal 2009 were $4.9m, a decrease of 27% from revenues of $6.7m in the same quarter of fiscal 2008.

For the first nine months of fiscal 2009, the company posted a GAAP net loss of $17.78m, or 0.68 per share, compared to a GAAP net loss of $26.08m, or $0.88 per share in the comparable period of fiscal 2008. The company revenues for the first nine months of fiscal 2009 were $13.55m, compared to $27.34m in the same period of fiscal 2008.

Todd Simpson, president and CEO of Ditech, said: Despite difficult economic conditions, we were able to sequentially grow the revenue in our VQA business while carefully managing our operating expenses and use of cash. I am excited about the go forward opportunity for Ditech based upon current VQA trial activities and the positive feedback we have received on our recent mStage product announcement.

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