Israel-based ECtel Ltd. (ECTX), a global provider of Integrated Revenue Management (IRM) solutions, reported an increase in revenue during the third quarter of 2008.
Revenue for the third quarter of 2008 totaled $7.1 million, a 22 percent increase compared to the $5.8 million in the third quarter of 2007 and 6 percent higher than the $6.7 million revenue in the second quarter of 2008.
On a GAAP basis, gross margin for the third quarter 2008 totaled 50 percent, compared to the 58 percent margin in the third quarter of 2007, and 50 percent margin in the second quarter 2008. Operating loss for the third quarter of 2008 reached $2.0 million, compared to an operating loss of $0.9 million in the third quarter of 2007 and an operating loss of $2.0 million for the second quarter of 2008. On a GAAP basis, net loss for the third quarter of 2008 totaled $1.9 million or $0.11 loss per share, compared to $0.7 million or $0.4 per share in the third quarter of 2007.
"During the third quarter of 2008 we continued to generate revenue growth, while maintaining gross margins at the 50 percent level," commented Itzik Weinstein, president and CEO of ECtel."On the business side, we continued to expand our global presence and generated new orders, while leveraging our strong partner base to target new, previously inaccessible, customers primarily in Europe and Africa."
As the global markets enter this new challenging phase, we expect new opportunities to emerge for ECtel, primarily as demand for revenue assurance and minimizing income leakage become key objectives for operators worldwide.”
