8x8's profits jump in fiscal second quarter

It might be looked at as small potatoes in the larger telecom realm, but VoIP provider 8x8 posted a $1.3 million in net profit for the second quarter of fiscal 2010. This is a major increase from the $414,000 it reported [1] during the previous quarter and $44,000 or $0.00 per share for the same period last year.

8x8's overall company revenue was a different story. The VoIP provider reported that total fiscal Q2 revenue for fiscal 2010 was $16 million, a 3 percent sequential increase from the $15.6 million from the first quarter, but down 2.4 percent from the $16.4 million it reported in the same period for fiscal 2009.

Bryan Martin, 8x8's chairman and CEO said in a statement that 'much of the second half growth stemmed from new contracts from business users.'

One vertical segment where 8x8 is making a splash is the public sector. In October, 8x8 signed [2] a teaming deal with Level 3 Communications to extend VoIP services to federal government customers via the General Services Administration's Networx Enterprise and Washington Interagency Telecommunications Services (WITS-3) telecom procurement contracts.

For more:
- VON Magazine has this article [3]

Related articles
Level 3, 8x8 target public sector opportunities [2]
8x8 posts net profit for fiscal Q1 2010 [1]