ROSH HA'AYIN, Israel, January 21 /PRNewswire-FirstCall/ -- ECtel Ltd.
(NASDAQ: ECTX), a leading global provider of Integrated Revenue ManagementTM
(IRMTM) solutions, today announced that it will be releasing its fourth
quarter and full year 2008 financial results on Tuesday, February 17, 2009.
Furthermore, the Company is issuing its preliminary financial results for the
fourth quarter and full year 2008.
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Revenues for the full year 2008 are expected to be in the range of $24.7
- 25 million compared with a formerly anticipated range of $26 - 28 million.
Revenues for the fourth quarter 2008 are expected to be in the range of $4.5
- 4.8 million, compared with the $5.8 - 7.8 million range, implicit within
the last annual guidance range. Revenues for the fourth quarter, and
subsequently the full year, were lower than earlier forecast primarily
resulting from three factors, each which negatively affected the results.
These were: the impact on the business of the stronger than originally
anticipated global financial crisis and economic downturn; the delayed
completion of a particularly large project; as well as the volatile currency
environment, in particular, the sharp changes in the British Pound and Euro
exchange rates against the US Dollar. The effect on the business of economic
downturn is primarily through a lengthening of sale cycles, though the
Company is continuing to see the same pipeline as before in sales leads.
As a result of the lower revenue levels, the Company is expecting a
non-GAAP net loss per share range for the fourth quarter of $0.17 - 0.19 and
a non-GAAP net loss per share for the year of $0.42 - 0.44.
Itzik Weinstein President & CEO commented, 'While we are disappointed
with the revenue results of the fourth quarter, we remain confident in our
long-term business potential. We continue to have confidence in our strong
market position, product offering and business model given our sound,
unchanged, business fundamentals and good pipeline.
