Digital video networking solutions developer Scopus Video Networks Ltd. (Nasdaq:SCOP) today published its financial report for the second quarter of 2008. The company posted a GAAP net profit of $100,000, compared with a net loss of $1.2 million for the corresponding quarter of 2007. Non-GAAP net profit was $500,000 compared with a loss of $700,000 for the corresponding quarter.
The company posted a record $19.1 million revenue for the second quarter, 41% more than the $13.5 million for the corresponding quarter. 51% of revenue came from Europe, Middle East, and Africa, 32% from the Asia-Pacific region and 17% from the Americas.
Scopus CEO Dr. Yaron Simle said, "The second half of 2008 looks even brighter. We recently announced a number of new products and system capabilities that position us very well to increase our market share."
Scopus rose 7.5% on Friday to $4.43, giving a market cap of $61 million.
Published by Globes [online], Israel business news - www.globes-online.com - on July 28, 2008
© Copyright of Globes Publisher Itonut (1983) Ltd. 2008