DDi Corp. announces estimated Q2 results
Jun 26, 2007
DDi Corp. (NASDAQ:DDIC) reported estimated financial results for its second quarter ending June 30, 2007.
Second Quarter Estimated Results
The Company is estimating second quarter 2007 net sales in the range of $48 million to $49 million, a sequential increase of 11 percent to 13 percent over the first quarter's net sales. Gross margin is estimated to be in the range of 21 percent to 23 percent, an improvement over the first quarter's gross margin of 18.4 percent. Adjusted EBITDA is expected to be in the range of $6 million to $7 million, as compared to $4 million in the first quarter, with a corresponding improvement in operating income. The Company's adjusted EBITDA estimate excludes the impact of non-cash compensation, restructuring related charges, and foreign currency gains or losses. The Company expects to generate positive net income and earnings per share for the second quarter.
Mikel Williams, Chief Executive Officer of DDi Corp., stated, "I am very pleased with our performance and the sequential growth over the first quarter's results. We have seen growing customer interest in DDi's capabilities as reflected by an increase in order intake and facility qualifications. We continue to strengthen our sales resources by adding proven PCB sales talent to our direct sales team and through our rep firm relationships. I am also very pleased with our manufacturing performance as well as improved factory loading and cost management. I believe the quarter's improved operating margins reflect the operating leverage inherent in our business model and we are focused on driving this leverage going forward."