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VoiceServe Achieves Profitability on 57 Percent Revenue Increase over Prior Fiscal Year's First Quarter


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August 27, 2010

VoiceServe Achieves Profitability on 57 Percent Revenue Increase over Prior Fiscal Year's First Quarter

By Ed Silverstein, TMCnet Contributor

VoiceServe, Inc., the parent company of VoipSwitch, has reported revenues of $1.1 million for the first quarter of its fiscal year 2011, a 57 percent increase over for the same period of the previous fiscal year, and an increase of 13 percent over the fourth quarter of fiscal year 2010.

The company also reported net earnings of $126,000 for the first quarter, which includes $122,000 of income from the revaluation of common stock warrant liability. This marks the company’s first profitable quarter since the company’s inception in 2007.

This compares to a net loss of $(444,000) for the first quarter of fiscal year 2010, which includes stock based compensation of $379,000.

The company expects an increase in marketing (especially industry conferences), and sales personnel to support its move into the North and Latin American markets, and additional research and development professionals as the company expands its service offerings, including IPTV.

Voiceserve recently announced the introduction of softphone dialers for Apple’s (News - Alert) iPhone, iPod and iPad. The softphone dialers enables users of these devices to take advantage of the significantly lower cost VoIP communications. For example, users of Apple’s highly successful iPad are able to download the softphone dialer on to their tablet computer, turning it into a virtual phone. Calls can be made simply by using the touch screen pad and dialing a desired number or simply using contact information already downloaded on the unit, anywhere in the world. The company also provides Instant (text) Messaging service for Android, Apple and Symbian (News - Alert) cellular phone. Similar to using Instant Messaging on computers, a user can interact with several people at the same time and see who is participating in the Instant Message session. The service is open system, enabling it to communicate across different protocols – similar to email.

“These are very exciting times for Voiceserve. Our efforts at closely managing costs while growing the company’s revenue base has brought us to profitability. As we continue to expand our reach into other markets, such as the U.S. and Latin America, and further penetrate our existing markets, we expect to continue a profitable trend,” said Michael Bibelman, VoiceServe’s CEO. “Our incredibly versatile VoIP software provides a comprehensive base for companies of all sizes to either take advantage of the cost efficiencies inherent in VoIP communications or become wholesalers, resellers or retailers in the fast expanding VoIP market. To stay on the leading-edge of our industry, we are continually developing services that enhance the functionality of our VoIP offering. Our customers advise us of their needs and our talented technical professionals develop service around them. We are a very customer centric business.”

Alexander Ellinson, Voiceserve’s chairman, added, “Our focus on the markets’ end user demands is gaining world-wide exposure, both from our existing customer base as well as potential new customers. Industry exhibitions are providing a dynamic venue for Voiceserve to advertise its comprehensive VoIP software package. We attract considerable attention at these exhibitions and generate impressive leads on which our sales force follows up. Some of our first to market products have won awards at some of these key events. We expect the momentum being built for Voiceserve’s products, coupled with the company’s popular first-to-market features, will support continued growth.”

VoiceServe is a software platform provider focusing primarily on delivering affordable, complete, next generation services to Internet Telephony (News - Alert) Providers (ITSPs). Products include VoipSwitch, a custom modular all-in-one Voice over Internet Protocol (VoIP) management platform licensing solution for resellers; VoIP airtime minutes bundled with optional convenient features, including virtual numbers, direct dial, web callback, and call forwarding; IP-PBX (News - Alert); and mobile softphone, and video technologies.

More information about VoipSwitch can be found by clicking here.

Ed Silverstein is a contributing editor for TMCnet's InfoTech Spotlight. To read more of his articles, please visit his columnist page.

Edited by Ed Silverstein

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