DDi reports Q3 results
Nov 09, 2005
DDi Corp. (Nasdaq: DDIC) announced financial results for the three and nine months ended September 30, 2005.
Summary of Third Quarter Results
The Company reported third quarter 2005 net sales of $46.0 million, adjusted EBITDA of $2.6 million and a net loss of $(28.8) million, or $(0.72) per share. The net loss reflects the recording of a $23.5 million goodwill impairment charge during the quarter.
Third quarter 2005 net sales increased from the prior quarter's performance of $45.5 million, led by a 3% increase in PCB related net sales, offset by a slight sequential reduction in assembly revenues. Net sales for the third quarter 2005 decreased 2% compared to net sales of $47.1 million for the third quarter 2004. The decrease is primarily attributable to a $2.4 million reduction in the Company's assembly operation due to lower order fulfillment. This was partially offset by a 3% year-over-year increase in revenues in the Company's PCB operations, as the result of higher demand for the Company's quick-turn services and slight growth in the Company's volume procurement services.
full report at www.ddiglobal.com/investor