HERZELIYA, Israel and BILLERICA, Mass. -- Voltaire Ltd.
(NASDAQ: VOLT), a leading provider of grid backbone solutions, today announced financial results for the three-month period ended June 30, 2007.
Second Quarter Highlights (compared to second quarter 2006):
o Revenues increased by 194% to $11.7 million o Gross margin increased to 39.6%, from 37.4% o Steady decline in operating and net loss o Continued penetration into key vertical markets including enterprise data centers o New hardware and software product introductions improving margins
Revenue for the second quarter of 2007 totaled $11.7 million, an increase of 194% compared with $4.0 million in the second quarter 2006.
Gross profit for the second quarter of 2007 totaled $4.6 million, or 39.6% of revenues, an increase compared with $1.5 million gross profit in the second quarter 2006, or 37.4% of revenues.
Operating loss for the second quarter of 2007 totaled $1.3 million, a 59% improvement compared with $3.2 million loss in the second quarter of 2006.
Net loss for the second quarter of 2007 was $1.5 million, or $0.10 per diluted share on a GAAP on an as converted basis, a 56% improvement compared with $33 million net loss, or $0.26 per diluted share, in the second quarter of 2006.
