VoIP, Inc. Reports 58.7 Percent Revenue Increase for July, 2007

By Calvin Azuri

TMCnet Contributing Editor

 

VoIP, Inc, reported a 58.7 percent increase in unaudited revenues for the month ended July 31, 2007. This represents an increase of about $852,000. The company said the boost was mostly due to 47 percent increase in termination minutes by users of its network.

 

“We believe we are now starting to see the results from the investments we have made in building our Network,” said VoIP, Inc.’s chairman and CEO, Anthony Cataldo, in a statement. “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.”

 

Cataldo added that the recent sale of assets at the company’s Dallas division was part of a restructuring and cost-reduction effort as a means of devoting more resources to developing 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,” Cataldo said.

 

Also, compared to June, 2007, network improvements have resulted in traffic increases. Average price per minute charged to customers jumped by almost 15 percent compared to the previous month.

 

VoIP, Inc. provides turnkey VoIP solutions for service providers, resellers and consumers. The company is a certified competitive local exchange carrier (CLEC) and an  Inter Exchange carrier.

 

The company’s solutions are operated by its wholly-owned subsidiary VoiceOne Communications. Offerings include broadband products and fulfillment services.