ECI Reports Q3
GAAP net income for the third quarter of 2006 reached $7.1 million, or $0.06 per share on a fully diluted basis. This is up 14% compared with third quarter 2005 net income of $6.2 million, or $0.05 per share on a fully diluted basis and with $9.6 million, or $0.08 per share, in the second quarter of 2006, which included a unique $4.1 million gain, or $0.03 per share, resulting from the distribution of ECtel shares to ECI's shareholders.
Pro forma, non-GAAP, net income for the third quarter of 2006 was $11.1 million, or $0.09 per share, on a fully diluted basis. This is up 39% compared with third quarter 2005 non-GAAP net income of $8.0 million, or $0.07 per fully diluted share, and compared with $14.8 million, or $0.12 per share in the second quarter of 2006, which had also included the above mentioned $4.1 million gain resulting from the distribution of the ECtel shares.
ECI Telecom Ltd.