For investor information contact:
Leigh Salvo, Investor Relations
(650) 314-1000
ir@catapult.com
CATAPULT COMMUNICATIONS REPORTS FULL UNAUDITED
FOURTH QUARTER AND FISCAL YEAR 2006 OPERATING RESULTS
Mountain View, CA-December 6, 2006-Catapult Communications
Corporation (Nasdaq: CATT) today reported that it has completed its
accounting for income taxes and finalized its unaudited results for
the quarter and year ended September 30, 2006.
As previously announced, revenues for the Company's fourth fiscal quarter
ended September 30, 2006 were $13.8 million, and a pre-tax loss of $1.9
million was recorded after reflecting a $359,000 restructuring charge
as well as non-cash charges totaling $4.2 million for stock option costs,
increased inventory obsolescence and impairment of long-lived assets.
The Company's provision for income taxes in the fourth quarter of fiscal
2006 was $9.2 million primarily as a result of a full valuation allowance
recorded against its U.S. deferred tax assets.
The resulting net loss in the fourth quarter of fiscal year 2006 was
$11.1 million or $0.76 per diluted share, compared to a net profit of
$2.5 million or $0.17 per diluted share in the fourth quarter of fiscal
2005.
About Catapult Communications
Catapult Communications is a leading supplier of advanced digital telecom
test systems to global equipment manufacturers and service providers,
including Lucent, Motorola, NEC, NTT DoCoMo and Nortel. The Catapult
DCT2000® and MGTS® systems deliver superior high-end test solutions
for hundreds of protocols and variants -- spanning IMS, 3G, VoIP, GPRS,
SS7, Intelligent Network, ISDN and other network environments. The Company
is committed to providing testing tools that are at the forefront of
the telecom technology curve.
Catapult is headquartered at 160 South Whisman Road, Mountain View,
CA 94041. Tel: 650-960-1025. International offices are located in the
U.K., Germany, France, Finland, Sweden, Canada, Japan, China, Australia
and India. Information about Catapult Communications can be found on
the Web at www.catapult.com.
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Financials
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