DG FastChannel, a provider of digital media services to the advertising, entertainment and broadcast industries, reported Q2 revenue of 21.7 million compared to 15.1 million in the comparable period of 2006. The consolidated revenue for the quarter includes approximately one month of results of operations of Pathfire, which was acquired 6/4. Q2 saw revenue growth of 8% on a year-over-year basis. Net income was 3.3 million, or 0.20 per diluted share, compared with net income of 1.1 million, or 0.12 per diluted share in Q2 '06.
Scott Ginsburg, CEO of DG FastChannel commented on the results, "The second quarter was an active and successful period for DG FastChannel highlighted by record financial results. Additionally, we entered into several strategic acquisitions and partnerships that will expand the breadth of our next generation, state-of-the-art digital media offerings across new and exciting markets. Our strategy of constantly upgrading our technology platform and consolidating complementary businesses is setting new benchmarks for revenue, EBITDA, net income and EPS. Importantly, margins and operating efficiencies also are improving. Year-over-year revenue rose 43% to 21.7 million, driving a 67% increase in diluted earnings per share."