Sales from acquisitions made last year helped boost revenue by 90% for DDS Wireless International Inc. (TSX:DD) in the second quarter ending June 30, 2008.
The Richmond company's quarterly revenue rose to $8.2 million from $4.3 million in the same period in 2007. Quarterly net loss fell 50% to $601,761 from $1.2 million.
Revenue from the acquisition of MobiSoft and StrataGen in 2007's fourth quarter contributed to the stronger performance.
Despite that stronger performance, however, the company has reduced its revenue guidance for fiscal 2008 to between $33 million and $34 million from the $36 million to $38 million previously announced in mid-May.
DDS cited changes in timing to the execution of contracts and the economic slowdown in the U.S. as the main reasons for reducing its revenue projections.
The company's share price range during the past week: between $2.40 and $2.52; 52-week high: $3.20; 52-week low: $2.20.