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Revenues for the quarter were USD4.5m as compared with USD14.0m in the first quarter of the prior fiscal year, representing a decline of 68%.
The revenues for the quarter were reportedly in line with the company's preliminary announcement.
GAAP net loss for the quarter was USD7.0m, a decline over a GAAP net loss of USD1.0m in the corresponding quarter of the prior fiscal year.
Fully diluted net loss per share for the quarter was USD0.27, as compared with a fully diluted net loss per share of USD0.03 in the corresponding quarter of the prior fiscal year.
Non-GAAP net loss for the quarter was USD6.3m or USD0.24 per diluted share, as compared with a non-GAAP net loss of USD0.1m or USD0.00 per diluted share in the first quarter of the prior fiscal year.
The company provided outlook for the second quarter, based upon expected bookings, timing of shipments and deferred revenues. Ditech expects second quarter revenues to be slightly better than the first quarter levels.
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