The Company posted sales of $345,090,000 for the second quarter of fiscal 2001, compared with the $292,070,000 posted for the second quarter of fiscal 2000.
During the second quarter of fiscal 2001, the Company incurred non-recurring after-tax charges totaling $22,028,000 for costs related to a previously announced workforce reduction and writedown of investments. During the second quarter of fiscal 2000, the Company incurred nonrecurring after-tax charges totaling $10,786,000 for acquisition-related costs.
Kobi Alexander, Chairman and CEO of Comverse Technology, stated, Our second quarter results reflect the impact of the global capital spending recession, and the worldwide economic slowdown. At the same time, we remain well-positioned as a leader in our major markets, and believe that these markets offer attractive opportunities for long-term growth. In particular, we believe that communications service providers view enhanced services as an increasingly important strategic weapon for revenue generation, differentiation, and churn reduction. More than 375 wireless and wireline telecommunications network operators have selected Comverse’s enhanced services systems and software, which enable the provision of value-added services including call answering with one-touch call return, short messaging services, IP-based unified messaging (voice, fax, and email in a single mailbox), 2.5G/3G multimedia messaging (MMS), wireless instant messaging, wireless data and Internet-based services, voice-controlled dialing, messaging and browsing, prepaid wireless services, and additional personal communication services. In addition, our Comverse Infosys division continues to expand its market share, as more customers use our multimedia monitoring, business intelligence and customer relationship management products, and our Ulticom division continues to benefit from the growth in intelligent network services, as well as the convergence of circuit and packet communications technologies.
