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Telanetix (News - Alert) has stated that the company has received proceeds of $2 million while increasing its six-year, interest only, non-amortizing debentures to an aggregate principal amount of $28.1 million, up from the $26.1 million principal they previously had announced.

 

Telanetix is a communications solutions provider offering telepresence and voice over IP (VoIP) services to all business market segments.

 

"Our debenture holders continue to support our growing business and increased our debt, which we intend to apply to advertising and sales expansion," said Doug Johnson, Telanetix's chief executive officer. "During the second quarter, we implemented cost reduction programs that are expected to lower expenses in the coming quarters. In the meantime, the funds provide the flexibility to support our new sales programs to drive growth, in particular in video."

 

The company has stated that their voice offerings, marketing under the "AccessLine" brand, give companies flexible calling solutions, a simpler installation experience, and a greater range of support options than traditional telecom providers. Their Digital Presence solution creates fully-immersive and interactive meeting environments that incorporate voice, video and data from multiple locations into a single environment.

 

The company asserts that in order to develop their video and voice services they are planning their sales expansion and increasing their advertising. These $ 2 million gross proceeds from their increase in debt are viewed by the company as meeting the requirements for the year. Even if they try and accelerate certain programs the company has maintained that it would never waver from the profitable growth pattern.

 

The company also claims that they have placed a working video team to see meaningful impact in the beginning of 2009.

 

Doug Johnson, Telanetix’s CEO, added, “And during the second quarter, we met our financial and organizational objectives, growing revenue 4.5 percent and increasing gross margin 200 basis points when compared to first quarter 2008, both due to improvements in our video business. We transformed our capital structure by restructuring debt, eliminating principal payments and lowering the overall monthly obligations. Additionally, we named three general managers to lead Telepresence (News - Alert), Voice for SMB, and Voice for SME. Combined with a cost saving from our late second quarter and third quarter 2008 headcount reduction of 10 percent and integration efforts, we are positioned to improve our productivity.”

 

For more info visit http://www.telanetix.com