..only that it should be a big gapper tomorrow..amazes me how great earnings/buy ratings sometimes takes a few days to kick in:
News Story
DITC - NASDAQ
/FROM PR NEWSWIRE SAN FRANCISCO 415-543-7800/
TO BUSINESS AND TECHNOLOGY EDITORS:
BancBoston Robertson Stephens Reiterates Buy Rating on DITC
SAN FRANCISCO, Aug. 20 /PRNewswire/ -- The following is being issued by
BancBoston Robertson Stephens, a member of the National Association of
Securities Dealers, CRD number 41271:
BancBoston Robertson Stephens managing director and senior
communications/networking analyst Paul Johnson today reiterated his Buy rating
on Ditech Corp. (Nasdaq: DITC). Ditech is a leading vendor in the market for
echo cancellation technology.
"We are reiterating our Buy rating on Ditech following the company's
announcement of impressive financial results, in excess of the Street and our
expectations," said Johnson. "The company reported revenues of $9.8 million
and earnings-per-share of $0.09, well ahead of our $7.8 million and
$0.05 estimates, respectively.
"In our view, the upside surprise was driven by accelerating market
acceptance of the company's new family of broadband/quad Echo Cancellation
products," said Johnson. "We estimate that revenues from these new products
grew roughly 75 percent sequentially and now account for approximately
54 percent of overall revenues.
"In addition, the company announced that it received a substantial new
order from one of its customers in the amount of $12 to 15 million," said
Johnson. "This is singularly the largest order in the company's history and
an impressive testament to the company's growing market presence, new product
development, and customer relations, in our view.
"Due to the strong financial performance during the quarter and the newly
announced contract, we are raising our fiscal 2000 and fiscal
2001 earnings-per-share estimates from $0.37 to $0.64 and from $0.62 to
$0.81, respectively," said Johnson.
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