A novel means for performing dibit extraction is presented. Any one of an unequalized signal dibit, equalized signal dibit, or noise dibit can be extracted. Instead of using the correlation properties of a PN (Pseudo-Noise) sequence to approximate a PN deconvolution sequence, the use of the actual deconvolution sequence (i.e., PN sequence that includes values of +k and 0, where k is oftentimes 1) is employed so that no approximations are needed. The resulting estimate of the channel is therefore very accurate.