San Antonio — The Progressive Retailers Organization was at the Westin La Cantera Hill Coun
VoIP provider 8x8 turned in its second profitable quarter for its third quarter of fiscal 2008, ended Dec. 31, 2007.
The company earned $1.4 million for the quarter on revenues of $15.8 million. In the second quarter the company posted revenues of $13.3 million and a loss of $2.6 million.
8x8's cash and investments increased for the third consecutive quarter from $12.9 million in the second quarter to $14.3 million as of the end of the year.
Revenues from the firm's Virtual Office small-business solution grew 8 percent from the second quarter to represent 48 percent of 8x8's total revenue haul, while the company's residential voice and video service revenue grew 5 percent.
As of the end of 2007, 8x8 said it had more than 10,000 subscribers for its Virtual Office service. The company also earned $1.2 million on the sale of two "legacy, non-core patents" to a third party as part of an overall strategy to monetize the company's intellectual property portfolio.