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Vonage continued to narrow loss in Q2

Thu, 08/09/2007 - 8:54am
Traci Patterson

Vonage’s second quarter revenues soared 43 percent, to $206 million, from $144 million in the year-ago quarter.

Adjusted loss from operations narrowed dramatically, to $18 million, a 70 percent improvement from $60 million in the year-ago quarter. The company's net loss narrowed to $34 million, or $0.22 per share, from a net loss of $74 million a year ago.

Vonage added approximately 57,000 net subscriber lines during the quarter and finished with 2.45 million lines in service.

"We made significant strides this quarter in reducing costs and narrowing our losses,” said Vonage Chairman Jeffrey Citron. “Despite the continued challenges associated with the Verizon litigation, the company maintained its focus on achieving adjusted operating profitability.”

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