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8x8 Posts First Profitable Quarter

By Greg Scoblete -- TWICE, 8/2/2007

Santa Clara, Calif. – VoIP provider 8x8 said today that it enjoyed its first positive quarter since launching is Packet8 service in 2002.

For the first quarter ended June 30 the company posted a net income of $508,000 versus a $2.9 million net loss in the year ago quarter. During the first quarter, 8x8’s total revenue hit $14.7, up from $14.4 million in the first quarter 2006.

The firm’s Virtual Office service saw revenue gains of 23 percent over the previous quarter, while residential voice revenue dropped 5 percent.

According to 8x8, Virtual Office now boasts 8,000 small-to-medium business subscribers, accounting for 44 percent of the company’s total revenue in the first quarter.

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