Total revenues decline to $20.95m
Veraz Networks, a provider of voice infrastructure solutions, has posted a net loss of $3.01m, or $0.07 per basic and diluted share, for the first quarter ended March 31, 2009, compared to a net loss of $3.09m, or $0.07 per basic and diluted share, in the same quarter of 2008.
Total revenues for the first quarter of 2009 declined to $20.95m from $27.88m in the same period of 2008. Gross profit for the first quarter of 2009 declined to $12.14m from $14.95m in the same quarter of 2008.
Doug Sabella, chief executive officer of Veraz Networks, said: As we entered the first quarter, we faced a number of challenges including a difficult global economic climate and the historic seasonality of our first quarter business.
Despite those challenges, we were able to deliver high quality IP product and services revenues with good margins, due largely to the continued demand for our technology and platforms from our new and existing customers. In addition, we recorded quarterly services revenues and the related services margins that were the highest in the history of the company.