The company has reported a 260% decline in net income for the first quarter of 2009 to $1.02m, compared to $3.7m for the same quarter of fiscal 2008
It said operating income fell to less than $1m from $4.6m last year. Diluted EPS declined to $0.04 from $0.14 last year. Cash and cash equivalents at the end of the quarter was $22.6m.
Embedded products revenue declined 13% to $18m and non-embedded products revenue fell 2% at $23.4m. Geographically, EMEA revenue increased 20% to $13.3m, while Latin America revenue increased 38% to $1.1m. North America revenue fell 18% to $23.2m, while Asia Pacific revenue declined 16% to $3.8m.
Joseph Dunsmore, chief executive at Digi, said: The Digi team continues to execute steadfastly on its strategy in a tough environment. Digi is positioned with its balance sheet, strong operating margins, and market and product positioning, to gain share and emerge in a strengthened position, despite rapidly changing economic conditions.
For the second quarter it expects revenue between $40m and $46m, and diluted EPS between $0.01 and $0.07.
