BILLERICA, Mass. and HERZLIYA, Israel -- Voltaire Ltd. (NASDAQ: VOLT), a leading provider of grid backbone solutions for data centers, today announced financial results for the three-month period ended June 30, 2008.
Second Quarter Highlights (compared to second quarter 2007)
- Revenues up 46% reaching $17.1 million
- Gross margin reaches record 54.5%, compared to 39.6% in second quarter 2007
- Non-GAAP net income reaches $0.8 million; GAAP net income totals $0.4 million
- Strong increase in order generation in financial services, manufacturing and life science vertical markets
- Introduce third quarter revenue guidance of $17$18 million; non-GAAP EPS $0.02 - $0.04
Revenues for the second quarter of 2008 totaled $17.1 million, an increase of 46% compared to $11.7 million in the second quarter 2007. Gross profit for the second quarter of 2008 totaled $9.3 million, an increase of 101% compared to $4.6 million in the second quarter 2007. Gross profit, as a percent of revenues, for the second quarter of 2008, totaled 54.5%, a substantial increase from the 39.6% gross profit, as a percent of revenues, for the second quarter 2007.
Operating profit for the second quarter of 2008 totaled $0.3 million, an improvement from the GAAP operating loss of $1.3 million in the second quarter of 2007. Net profit for the second quarter of 2008 totaled $0.4 million, or $0.02 per diluted share, compared to a net loss, after non-cash accretion of redeemable preferred shares, of $6.8 million, or $9.79 loss per diluted share, in the second quarter of 2007.