VoIP inc, Generates 58.7% Increase in Sequential Monthly Revenue
Company Generates 58.7% Increase in Sequential Monthly Revenue
VoIP, Inc. (OTCBB: VOII) announced today unaudited results for the month ended July 31, 2007. The Company reported a 58.7% increase in monthly revenue, to approximately $852,000, compared to June, 2007, primarily as a result of a 47% increase in total termination minutes of use of its Network. Revenue for the 2007 month of July increased by more than 100% compared to the same period a year earlier.
VoIP also announced that as a result of improved pricing due to enhancements it has made to its Network, the average price per minute charged to its customers increased by approximately 15% compared to the prior month. New traffic increased at an even higher rate. The Company expects usage to further grow significantly in August.
“We believe we are now starting to see the results from the investments we have made in building our Network,” said Anthony J. Cataldo, VoIP, Inc.'s Chairman and CEO. “While July showed a significant sequential increase in revenue and use of our Network, we expect further momentum in August as customers expand their use of our Network. The recent sale of certain assets of our Dallas Division reflects our continuing restructuring and cost reduction efforts and attempts to deploy the Company’s assets in further expanding its Network. We believe our Network provides a key point of differentiation for VoIP, and will continue to invest in growing it to support expanded use by our customers. With the increase in higher-margin revenue, VoIP is on the verge of reaching cash-flow break-even.”
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