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8×8 Nets $1.3M in Latest Quarter

Hosted VoIP provider 8×8 Inc. (EGHT) continued its winning streak in its second fiscal quarter, netting a profit of $1.3 million – a huge jump from the mere $44,000 of the same period a year earlier.

The results also outshone the company’s first-quarter 2010 results of $414,000 in profit.

Meanwhile, total revenue amounted to $16 million, up from $15.6 million in the first quarter but down from $16.3 million in 2009’s fiscal second quarter. Much of the second-half growth stemmed from new contracts from business users, said Bryan Martin, 8×8’s chairman and CEO.

“Revenue from business customers now accounts for nearly three-quarters of overall revenue,” he said in a prepared statement.

8×8 also is gaining traction among its peers. For example, on Oct. 1, the Sunnyvale, Calif.-based company signed a deal with wholesaler Level 3 Communications. The deal allows 8×8 to provision hosted voice services when Level 3 wins applicable federal government contracts through the Networx program.

Other agreements, such as the retail distribution partnership through OfficeMax, are helping 8×8 improve its numbers, too, as are lower operating expenses. On that front, costs fell from about $16.7 million in the same quarter last year to $14.6 million. Research and development outlay tapered off just a bit, as did selling, general and administrative charges.


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