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Pastimes : Clown-Free Zone... sorry, no clowns allowed
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To: Earlie who wrote (104811)5/25/2001 11:59:14 AM
From: mishedlo  Read Replies (1) of 436258
 
Ditech Communications Corporation (Nasdaq: DITC) today reported results for its fourth quarter and annual results for its fiscal year ended April 30, 2001. Ditech Communications closed its 2001 fiscal year with revenue of $121.7 million, an increase of 4% over revenues of $116.9 million from the previous year. Revenues for the fourth quarter ended April 30, 2001 were $19.7 million, down 58 percent from revenues of $46.8 million in the same quarter last year.

Pro forma results, which exclude non-cash charges associated with acquisitions such as amortization of goodwill, deferred stock compensation, and purchased research and development were:

-- Net income for the fourth quarter of fiscal 2001 of $165,000, down from income of $16.2 million in the same quarter last year.
-- Diluted earnings per share for the fourth quarter of fiscal 2001 of $0.01 compared to $0.54 for the same quarter last year.
-- Net income for fiscal 2001 of $27.7 million, down from $37.2 million for fiscal 2000.
-- Diluted earnings per share for fiscal 2001 of $0.91, down from
$1.38 for fiscal 2000.

Actual results were:
-- Net loss for the fourth quarter of fiscal 2001 of $7.2 million
compared to net income of $8.9 million in the same quarter last year.
-- Diluted loss per share for the fourth quarter was $0.25 per share
compared to diluted net income of $0.30 per share for the same quarter
last year.
-- Net income for fiscal 2001 was $2.1 million, compared to $29.9 million for fiscal 2000.
-- Diluted earnings per share for fiscal 2001 were $0.07 compared to
$1.11 for fiscal 2000.

"While the current market for telecom equipment continues to be very challenging, we're pleased to have achieved these results this quarter...
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