Voiceserve Inc reported promising financial results for its fiscal third quarter ended December 31, 2011. In Q3 of the 2012 fiscal year, the company improved its VoIP video-on-demand capability and was recognized with the Internet Telephony (News - Alert) 2011 IPTV Excellence Award for its innovative VOD platform. The third quarter 2012 was a period of record revenues and profitability for Voiceserve at the end of which it released its cloud-based VoIP PBX (News - Alert) product.

In a release, Michael Bibelman, Voiceserve's CEO, said, "Our Voipswitch software sales into the wholesale/retail markets continue to be steady, despite the global economic slowdown. In addition recurring revenue generated from our traditional one-time, software sales to VoIP operators purchasing our turnkey software is growing. 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. Today, that revenue source has grown to approximately $55,000 per month and is expected to continue its growth pace in the foreseeable future. Our enterprise commercial initiative, while taking longer than originally anticipated, appears to be close. During the quarter, we witnessed early revenue contribution of this initiative."

The company reported revenue generation of $1.4 million in the fiscal third quarter which ended December 31, 2011. The company also generated operating earnings of $20,264 during the same period which was marked with non-cash amortization and depreciation of $173,216, while its net earnings for the current fiscal year third quarter amounted to $179,599.

Revenue generation for the first nine months of fiscal 2012 was approximately $3.6 million, which is a six percent increase for the same period in the previous fiscal year. The company also reported a net loss of $990,148 or $(0.02) per basic share for the current fiscal nine month period while its net cash set aside for operating activities amounted to $323,127 for the current nine month period.  

Bibelman said, "We are seeing solid evidence that the wireless age has arrived and is embracing VoIP, with all its services offerings, at a feverish pace. Now that we have launched - for the first time - a direct to consumer mobile VoIP initiative complete with video conferencing and Video on Demand capabilities in one turnkey, most cost effective, simple to deploy solution, telecom industry leaders are seeking us out. While third quarter produced a positive move forward in our revenues, I expect the final fiscal quarter will witness material sequential growth."