8x8 Sees Record Results in Fourth Quarter
May 18, 2012
By Mike Lata
, TMCnet Contributor
8x8 (News - Alert) Inc., a company specializing in VoIP services, video conferencing, cloud hosting and unified communications, has announced its financial report for both the full fiscal year of 2012 and fourth fiscal quarter of 2012. Some of these results were record breaking for the company, with the fourth quarter being particularly successful.
The company's total revenue for the fourth fiscal quarter increased 33 percent from last year's figure and totaled $24.2 million. The revenue from the entire fiscal year totaled a record breaking $85.5 million – a 22-percent increase from fiscal year 2011.
Business customers provided a revenue increase of 44 percent during the fourth fiscal quarter of the year and this totaled $22.8 million. During the entire fiscal year of 2012, revenue from business customers totaled $79 million and this was a 30 percent increase in total over fiscal 2011. The average number of service subscriptions per business customers grew from 8 to 9.8 during the quarter from last year.
A specific highlight noted by the company was the acquisition of cloud contact center service provider Contactual (News - Alert), Inc. and cloud hosting service provider Zerigo.
The company's balance grew by $2.4 million during the fourth fiscal quarter, and now has $24.4 million in reserves (cash, cash equivalents and investments). During fiscal 2012 as a whole, the company's reserves increased by $6 million.
“I am very pleased to report that as a result of these investments, we have increased revenue from business customers in the fourth quarter by 44 percent while maintaining very healthy margins, net income and an increasing cash balance,” said CEO Bryan Martin (News - Alert).
“8x8's strong results for fiscal 2012 reflect the continued success of our core business model, combined with solid execution of our new strategic initiatives,” he added. “These included a sharper focus on mid-market business customers, reflected in our higher ARPU figures, the acquisition of Contactual, the addition of cloud hosting services and the refinement of our customer service methodology and procedures, which translated into decreasing churn results during the course of the year."
Edited by Braden Becker