Voiceserve, a provider of next-generation Internet telephony software and services, announced it has recorded 9 percent increase in revenue in fiscal third quarter ended December 31, when compared to the previous fiscal year third quarter.
During the fiscal third quarter, the company generated $1.4 million, an increase of 37 percent over the previous quarter.
The third quarter 2012 marks record revenues and crossover into profitability for the company. This growth, according to company officials, is attributed to the accelerated sales of the company’s Voipswitch software into the wholesale and retail markets.
“In addition recurring revenue generated from our traditional one-time, software sales to VoIP operators purchasing our turnkey software is growing,” said Michael Bibelman, Voiceserve's CEO, in a statement. “Just six months ago, our hosted solution, which offers operators an option to pay for our software on a monthly basis rather than an upfront one-time fee, stood at approximately $12,000 per month.”
Future growth is evident as the wireless age has emerged and there is increased adoption of VoIP among individual and business users. To get into this momentum, the company has launched a direct to consumer mobile VoIP initiative that offers a video conferencing and Video on Demand capabilities in one turnkey solution.
“While third quarter produced a positive move forward in our revenues, I expect the final fiscal quarter will witness material sequential growth,” Bibelman added.
During the third quarter, the company also perfected its VoIP video-on-demand capability. Earlier this year, Voiceserve also announced the launch of its cloud-based VoIP PBX (News - Alert) product which is offered through its website.
According to a press release from the company, revenues for the first nine months of fiscal 2012 were $3.6 million, a 6 percent increase over the same period of the previous fiscal year. The net loss for the current fiscal nine month period was $990,148 or $0.02 per basic share, which includes stock based compensation of $589,380 and warrant revaluation charges of $39,822.
Rajani Baburajan is a contributing editor for TMCnet. To read more of Rajani's articles, please visit her columnist page.Edited by
Jennifer Russell
