OTTAWA , Nov. 28 /PRNewswire-FirstCall/ - March Networks(TM) (TSX:MN; AIM:MNW), a leading provider of innovative video and data applications used for security surveillance, monitoring, analysis and business optimization, today announced financial results for the second quarter and first six months of fiscal 2008 ended October 31, 2007 . All figures in Canadian dollars and in accordance with Canadian GAAP unless otherwise specified.
Record revenue of
The Company incurred a net loss from continuing operations before income
taxes in the second quarter of fiscal 2008 of
The Company incurred a loss from continuing operations in the second
quarter of fiscal 2008 of
"Our second quarter results represent another quarter of achievement for the Company as we recorded new revenue highs in several segments of our business. Our commitment to customer service continues to be a key differentiator for the Company as is demonstrated by proactively addressing design issues within the Company's installed base of transit products" said Peter Strom , President and CEO of March Networks.
"The Company has demonstrated its ability to maintain strong revenue levels with its largest customer and to generate strong revenue growth outside of this customer which are the key drivers to successfully achieving the Company's financial objectives for fiscal 2008." said Ken Taylor , CFO of March Networks.
March Networks maintains its focus on long-term growth objectives and will
continue to provide only full year guidance. The Company is maintaining the
annual revenue and profitability guidance ranges that were last published in
the Company's first quarter results release on August 29, 2007 . The Company's
ability to achieve its revenue and profitability expectations is subject to a
significantly increased level of risk associated with the value of the US
dollar, which is currently trading at approximately $US1.00=$Cdn0.99 or 6%
below the Company's guidance rate of $US1.00=$CDN1.05. In addition, the