Redknee net profit down in Q2

Redknee registered a net income of $0.2 million in the fiscal second quarter, down from the $0.7 million posted in the same period the year before.

Operating profit was also down to $0.5 million from last year’s $0.9 million.

Revenue, however, grew 9% to $13.8 million from last year’s $12.6 million. Gross margin during the period increased to $10.8 million, or 79% of revenue, from $9 million, or 71% of revenue in the same period in 2008.

In the second fiscal quarter, the company signed a multi-million-dollar turnkey converged billing contract with Bahrain-based telco Bintel.