Israeli RA vendors ECtel bounced back from a poor Q1, this week reporting much better figures for Q2. Revenues for Q2 were US$5.7m, up from US$3.4m last quarter, but down on the US$6.7m generated in Q2 of 2008. Gross margin was good, at 60%. Costs were cut, and there were three contracts from new customers in addition to a reported 20+ orders from existing customers. However, ECtel continued to burn cash, reducing their cash pile by another US$0.5m over the quarter, though this still leaves them with US$14.3m in reserve. At that burn rate, they can cope for another 28 months. Once again, ECtel stated their intention of achieving breakeven in the second half of the year.
Better Q2 for ECtel
Israeli RA vendors ECtel bounced back from a poor Q1, this week reporting much better figures for Q2. Revenues for Q2 were US$5.7m, up from US$3.4m last quarter, but down on the US$6.7m generated in Q2 of 2008. Gross margin was good, at 60%. Costs were cut, and there were three contracts from new customers in addition to a reported 20+ orders from existing customers. However, ECtel continued to burn cash, reducing their cash pile by another US$0.5m over the quarter, though this still leaves them with US$14.3m in reserve. At that burn rate, they can cope for another 28 months. Once again, ECtel stated their intention of achieving breakeven in the second half of the year.
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