Ditech Networks announces preliminary Q1 fiscal 2009 results

Thu. August 07, 2008; Posted: 04:53 AM

Aug 07, 2008 (M2 EQUITYBITES via COMTEX) -- DITC | Quote | Chart | News | PowerRating -- Ditech Networks (Nasdaq:DITC), a provider of voice quality solutions to the communications industry, on 6 August announced preliminary results for the first quarter of fiscal 2009 ended 31 July 2008.

Revenues for the quarter are expected to be approximately USD4.5m. This is reportedly lower than Ditech's previous projection for revenues of between USD6m to USD9m for the quarter.

According to the company, the quarter was impacted by difficult market conditions and by the timing of some of its international business.

Ditech has initiated steps to reduce quarterly operating expenses by approximately 20%.

The company will provide final results for the quarter on 21 August 2008.

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