This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Ditech Networks Reports Financial Results For The Three And Nine Month Periods Ended January 31, 2012

Ditech Networks, Inc. (NASDAQ:DITC), a leader in solutions for voice quality enhancement and voice transcription, reported financial results for the three and nine month periods ended January 31, 2012.

The financial results for the three months ended January 31, 2012 were as follows:

  • Revenues were $4.2 million. PhoneTag voice-to-text revenues were approximately $1.3 million in the quarter, an increase of approximately 18% quarter over quarter.
  • Cash used in operations was $0.9 million. The majority of the cash used was invested in PhoneTag operations, development and trials.
  • GAAP operating expenses for the quarter were $4.2 million, up $0.1 million from $4.1 million in the previous quarter due to an increase in investment of PhoneTag trials and development expense, and down from $4.6 million for the corresponding quarter last year as a result of cost savings initiatives put in place throughout the last twelve months. Ditech Networks expects its investment in PhoneTag R&D and trials to continue to increase modestly in the near future.
  • Non-GAAP(1) operating expenses were $4.0 million.
  • GAAP net loss for the quarter was $2.7 million or $(0.10) per share.
  • Non-GAAP(1) net loss for the quarter was $2.5 million or $(0.09) per share.

The financial results for the nine months ended January 31, 2012 were as follows:

  • Revenues were $11.1 million.
  • Cash used in operations was $4.1 million.
  • GAAP operating expenses were $12.6 million.
  • Non-GAAP(1) operating expenses were $12.1 million.
  • GAAP net loss was $8.6 million or $(0.32) per share.
  • Non-GAAP(1) net loss was $8.0 million or $(0.30) per share.

(1) A reconciliation of the non-GAAP to GAAP financial measures for the three and nine month periods ended January 31, 2012 and 2011 is included at the end of this press release. These non-GAAP financial measures exclude stock-based compensation expense, the expense related to amortization of purchased intangible assets, severance and restructuring costs, and the tax effects of the excluded amounts.

1 of 7

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!
SYM TRADE IT LAST %CHG

Markets

DOW 17,698.18 -77.94 -0.44%
S&P 500 2,059.69 -8.20 -0.40%
NASDAQ 4,880.2280 -20.6570 -0.42%

Partners Compare Online Brokers

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs