[October 31, 2008] 8x8 posts Q2 net income Tweet Oct 31, 2008 (Datamonitor via COMTEX) -- 8x8, a US-based provider of Packet8 broadband business and mobile communications services, has posted net income of $44,000 for its second quarter of fiscal 2009, compared with a net loss of $2.6 million, for the same period in fiscal 2008. Revenues for the second quarter of fiscal 2009 increased to $16.4 million, compared with $14.8 million for the same period of fiscal 2008. Overall gross margin for the second quarter of fiscal 2009 was 65%, compared with 52% for the same period of fiscal 2008. For the first six month of fiscal 2009, the company posted net income of $1.23 million compared with net loss of $2.05 million, for the same period in fiscal 2008. The company's revenues increased to $32.7 million in first six months of fiscal 2009 to $29.5 million in the corresponding period of fiscal 2008. Bryan Martin, chairman and CEO of 8x8, said: "With nearly $16 million in cash and no debt, the company remains well positioned in its efforts to transition more and more small businesses away from budget-wasting legacy phone solutions. The potential of our Virtual Office service to cut fixed costs to businesses of any size and drive increased efficiencies and capabilities into the telecommunications infrastructure of these companies is more relevant than ever in this economic environment and we are driving this message home to all prospective customers." http://www.datamonitor.com Republication or redistribution, including by framing or similar means, is expressly prohibited without prior written consent. Datamonitor shall not be liable for errors or delays in the content, or for any actions taken in reliance thereon [ Back To TMCnet.com's Homepage ]