VoIP, Inc. Reports on July Business
Thursday, August 9th, 2007Yesterday VoIP, Inc. released unaudited results for their July 2007 business, which showed a sharp increase of 58.7% in monthly revenue (amounting to approximately $852,000), as compared to June 2007. They indicated that 47% of this increase was due largely to a greater amount of total termination minutes used. The revenue of July 2007 also showed a 100% increase as compared to revenue for a year prior. Due to recent network enhancements, VoIP, Inc. has also managed to increase their per minute charges by about 15% as compared to the previous month.
“We believe we are now starting to see the results from the investments we have made in building our Network,” said Anthony J. Cataldo, VoIP, Inc.’s Chairman and CEO. “While July showed a significant sequential increase in revenue and use of our Network, we expect further momentum in August as customers expand their use of our Network. The recent sale of certain assets of our Dallas Division reflects our continuing restructuring and cost reduction efforts and attempts to deploy the Company’s assets in further expanding its Network. We believe our Network provides a key point of differentiation for VoIP, and will continue to invest in growing it to support expanded use by our customers. With the increase in higher-margin revenue, VoIP is on the verge of reaching cash-flow break-even.”