Digi International Reports Fiscal Second Quarter 2002 Financial Results; Exceeds Analyst Expectations

4/17/2002 - Digi International® Inc. (Nasdaq: DGII), the leader in Connectware, today announced fiscal second quarter 2002 revenue of $25.2 million. One-time charges and amortization expenses, totaling $8.0 million, net of tax, resulted in a net loss for the second fiscal quarter of 2002 of $7.3 million, or $0.39 per diluted share, compared to net income of $0.3 million, or $0.02 per diluted share, in the second fiscal quarter of 2001. The second quarter one-time charges, net of tax, include a $3.5 million charge related to acquired, in-process research and development and other acquisition expenses incurred in conjunction with the NetSilicon acquisition, and a $3.1 million loss on the sale of the MiLAN business, as previously announced. The Company also incurred $1.4 million of expenses for amortization of goodwill and identifiable intangibles.

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