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Ditech Networks Shows Good Traction One Year into the PhoneTag Relationship |
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| 2010/9/8 |
Ditech Networks (NASDAQ:DITC) entered into a relationship with Simulscribe (PhoneTag) one year ago, anticipating that carriers would start to offer voicemail-to-text services to their users. The market’s transition to wholesale services accelerated over the last twelve months, and Ditech Networks has seen good growth in this area, both in terms of customers and revenue. The company, in the current quarter, expects to approach or exceed $1M of recurring revenue with the PhoneTag service.
The PhoneTag service has been extended to include multiple languages, to include an easy to use web services interface, and to support transcription of conference calls and audio embedded in video or other multimedia files. Ditech Networks’ core voice quality expertise and algorithms are also being leveraged to improve the overall quality and consistency of the PhoneTag service.
Even while integrating and enhancing the PhoneTag product, Ditech Networks has managed to lower overall operating expenses.
“The voicemail-to-text business is emerging, and we believe we have a very competitive product with PhoneTag,” said Todd Simpson, Ditech Networks chief executive officer.
“The success we have had so far with the PhoneTag assets has been positive,” said Jamie Siminoff, founder of PhoneTag and now Ditech Networks’ chief strategy officer. “We have been able to utilize the Ditech assets to improve and grow the service.”
About Ditech Networks
Ditech Networks is revolutionizing modern communications with advanced voice processing solutions and voice applications that offer network and speech quality enhancement, voice call control, speech-powered web access, voice-to-text services, and more. Ditech believes in the power and simplicity of human speech. Its technology is designed to deliver compelling voice capabilities to emerging forms of communication like social networking and text messaging, allowing consumers to use voice in ways that make sense in today’s Web 2.0-savvy world.
Leveraging over 20 years of deployments with communications providers around the world, Ditech offers unique, effective products and services that put the subscriber’s experience first, assisting carriers with revenue generation, service differentiation, network expansion and call capacity. Ditech’s customers include Verizon, Sprint/Nextel, Orascom Telecom, AT&T, China Unicom, Global Crossing, and West Corporation. Ditech Networks is headquartered in Mountain View, California. For more information, visit www.ditechnetworks.com.
Forward Looking Statement
This press release contains forward-looking statements regarding Ditech Networks’ expectations of the revenues and progress it expects from its PhoneTag service. Actual results may differ materially as a result of a variety of factors , including: Ditech Networks may not experience the demand for PhoneTag that it currently expects; larger carriers may delay deploying more automated voicemail and text solutions due to capital expenditure constraints; technical infrastructure demand could weaken or remain flat due to a weakening in the economy or for other unanticipated reasons; and Ditech Networks’ competitors may develop products and services that compete favorably with Ditech Networks’ products and services. Further risks inherent in Ditech Networks’ business are detailed in the section entitled "Future Growth and Operating Results Subject to Risk" in Ditech Networks' Quarterly on Form 10-K for the fiscal year ended April 30, 2010 (filed July 14, 2010 with the Securities and Exchange Commission).
News Source: Business Wire |
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| Contacts |
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Contact : Bill Tamblyn
Company : Ditech Networks
Country : United States
Telephone : 650-623-1309
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