Ditech Networks reported fourth quarter revenue of $20.0 million for the period ending 30-Apr-06, a decrease of $2.9 million from revenues of the same quarter of the prior fiscal year and up $6.0 million from revenues of $14.0 million in the third quarter of fiscal 2006. Revenues for the year were $54.9 million, a decrease from revenues of $94.1 million in fiscal 2005.
Net income for the fourth quarter was $2.0 million, a decrease compared to net income of $7.6 million in the fourth quarter of fiscal 2005 but an increase from third quarter net loss of $0.1 million. Fiscal 2006 full year’s net loss was $1.4 million, compared to net income of $71.1 million in fiscal 2005 which included a net tax benefit of $36.1 million due to the release of a tax valuation allowance.
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