Vonage reports something different in Q4, a profit

Vonage and positive news has rarely, if ever, been a combination the company has seen in its 10-year history. But in Q4, the company bucked its common negative trend by reporting that it actually had net income from its operations for the first time.

Excluding adjustments, the VoIP provider reported $3 million in net income, an increase of $37 million or $0.24 per share versus 2008.

On a sequential basis, company net income was flat but revenue increase rose up to $224 million. Vonage saw average revenue per user increase to $30.54 from $28.33 in the same quarter last year and $29.89 sequentially.

"2009 marks the first year generating net income excluding adjustments. Adjusted EBITDA more than doubled. And, revenues per subscriber have increased while we reduced selling, general and administrative expenses by double-digit percentages," said Marc Lefar, Vonage Chief Executive Officer in the earnings release. Lefar attributed the quarter's uptick to an upgraded value proposition, enhancing the customer experience, and reduced costs.

For more:
- see the release here

Related articles
Vonage pays $3M to states over customer complaints
Vonage posts 3Q loss
Sprint files four more VoIP lawsuits
Vonage Mobile for iPhone and Blackberry now ready for download
Banks slapped with $845K in fines over Vonage IPO

Suggested Articles

WOW CEO Teresa Elder was admitted to a Denver hospital on Friday after testing positive for COVID-19.

On the heels of TalkTalk shareholders approving the deal to sell FibreNation to CityFibre, CityFibre is now targeting 8 million premises in the U.K.

Cisco's Kevin Wollenweber has turned into a COVID-19 sleuth of sorts over the past few weeks as he tracks the virus' impact on networks.