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CounterPath Posts Second Quarter Fiscal 2013 Financial Results
[December 18, 2012]

CounterPath Posts Second Quarter Fiscal 2013 Financial Results

Dec 18, 2012 (Close-Up Media via COMTEX) -- CounterPath Corp., a provider of desktop and mobile VoIP software products and solutions, announced the financial and operating results for its fiscal 2013 second quarter ended October 31.

In a release on December 13, the company noted earnings details: Second Quarter Financial Highlights -Quarterly revenue of $3.6 million, a 3 percent increase year-over-year. Revenue for the six months ending October 31, of $8.0 million, a 28 percent increase year-over-year -Gross margin of 82 percent in Q2 2013 versus 81 percent in Q2 2012 and a non-GAAP gross margin of 83 percent.

-Non-GAAP loss from operations of $0.3 million compared to non-GAAP income from operations of $0.1 million for the second quarter of fiscal 2012.

-Net loss of $0.3 million (or loss of $0.01 per share), compared to a net income of $0.1 million (or $0.00 per share) for the second quarter of fiscal 2012.

-Non-GAAP net loss of $0.3 million (or loss of $0.01 per share), compared to a non-GAAP net income of $0.2 million (or $0.00 per share) for the second quarter of fiscal 2012. For the six months ended October 31, non-GAAP net income was $0.2 million (or $0.00 per share).

-Cash of $11.7 million as of October 31.

"While year-to-date sales growth was solid based on an exceptionally strong first quarter, growth in the second quarter was affected by some delays in sales from our channel partners as we transition a greater share of our contract business from direct sales to the channel, as well as the continued economic challenges in Europe," stated Donovan Jones, President and CEO. "The opportunity continues to grow for our offerings with carriers looking to offer voice and video on multiple end user devices, leveraging data and WiFi networks and enterprises looking to create cost savings and increased productivity extending communications services to mobile devices. Overall, with a strong sales pipeline, channel partners coming on-line and favorable long-term market trends, our outlook for continued growth remains very positive." continued Jones.

Recent Operational Highlights -Announced an agreement to provide the Bria mobile and tablet softphone applications to Altibox, a Norwegian triple-play service provider, enabling their customers to make mobile calls using their home phone number regardless of their location.

-Announced an agreement with Nippon Telegraph and Telephone Software Corp. that will enable Japanese enterprises to extend unified communications and fixed-mobile convergence services to their customers' mobile workers, telecommuters and business travelers.

-Rogers Communications, Canada's largest provider of wireless voice and data communications services and a provider of cable television, high-speed Internet and telephony services launched the iOS and Android tablet applications late in the second fiscal quarter for Rogers One NumberTM service based on CounterPath's technology.

-Released new features for the Client Configuration Server, a carrier-grade solution enabling enterprises to remotely manage all of their Bria desktop, mobile and tablet softphones and address and the challenges inherit in the "bring your own device" (BYOD) to work trend.

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