This Day On The Street
Continue to site
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 Month Period Ended July 31, 2012

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

The financial results for the quarter were as follows:
  • Revenues were $3.5 million, down from $5.6 million last quarter and $3.7 million in the corresponding period last year.
  • GAAP operating expenses for the quarter were $4.7 million, up from $4.3 million in both the previous quarter and in the corresponding quarter last year.
  • Non-GAAP (1) operating expenses were $4.6 million.
  • GAAP net loss for the quarter was $3.2 million or $0.12 per share.
  • Non-GAAP (1) net loss for the quarter was $3.1 million or $0.12 per share.



A reconciliation of the non-GAAP to GAAP financial measures for the three month periods ended July 31, 2012 and 2011, is included at the end of this press release. These non-GAAP financial measures exclude stock-based compensation expense, expense related to amortization of purchased intangible assets, severance and restructuring costs, and adjustment to tax provision.

Since April 30, 2012, Ditech Networks:
  • Increased PhoneTag revenue by approximately $0.1 million, or 5%, over the quarter ended April 30, 2012, and $0.5 million, or 51%, over the first quarter of the prior fiscal year.
  • Began migrating PhoneTag voice-to-text processing from an outside service provider to its own server farm, diverting approximately 25% of processing activity to it by the end of the first quarter.
  • Implemented an extensive increase in customer trials, primarily with an existing tier 1 customer, expected to result in a significant increase in new subscriber revenue.
  • Launched its first carrier in Latin America.
  • Realized improvements from development efforts that improved its PhoneTag processing capabilities, including much greater processing capacity while decreasing message turn around time, both of which are expected to contribute towards reduced costs per message.

“I am pleased to announce that our PhoneTag revenue for the first quarter of fiscal 2013 has increased approximately 51% over the first quarter of fiscal 2012,” said Ken Naumann, President and CEO.

1 of 5

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
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free
AAPL $94.02 0.00%
FB $104.07 0.00%
GOOG $683.57 0.00%
TSLA $162.60 0.00%
YHOO $27.97 0.00%


Chart of I:DJI
DOW 16,204.97 -211.61 -1.29%
S&P 500 1,880.05 -35.40 -1.85%
NASDAQ 4,363.1440 -146.4150 -3.25%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs