BOCA RATON, Fla., Oct. 26, 2006 (PRIMEZONE) -- StockMarketNewsAlert.com issues trade alert for 8x8, Inc. (Nasdaq:EGHT). According to M. D'Alonzo at First Equity Group Inc., recent news flow from the company has been very positive, "The company announced financial results for its second fiscal quarter ended September 30, 2006.
"Revenues for the second quarter of fiscal 2007 increased to $13.2 million, compared to $7.1 million for the same period of fiscal 2006 and $12.3 million for the previous quarter. The net loss for the quarter was $2.7 million, or ($0.04) per share, compared to a net loss of $5.7 million, or ($0.09) per share, for the previous quarter and $5.6 million or ($0.10) per share for the same period last year. Total revenues for the six-month periods ended September 30, 2006 and 2005 were $25.5 million and $13.1 million, respectively. Net loss for the six-month periods ended September 30, 2006 and 2005 was $8.5 million, or ($0.14) per share, and $10.7 million, or ($0.20) per share, respectively. The Company's cash, cash equivalents and investments totaled $14.5 million at September 30, 2006.
"The net loss, which improved by 52% from the previous quarter, includes approximately $548K of employee stock-based compensation expense due to the adoption of Statement of Financial Accounting Standards No. 123(R) (or FAS 123R). Excluding the impact of stock option expenses, the second quarter non-GAAP net loss was approximately $2.2 million."
About 8x8, Inc.
8x8, Inc. offers the Packet8 ( http://www.packet8.net/ ) VoIP (voice over internet protocol) telephone and videophone communications service and the Packet8 Virtual Office service. For additional company information, visit 8x8's web site at http://www.8x8.com/ .
Forward-Looking Statements
This news release contains 'forward-looking statements' within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements regarding future events or the future financial performance of the Company, including statements about future events based on current expectations, potential product development efforts, near and long-term objectives, potential new business, strategies, organization changes, changing markets, future business performance and outlook. Such statements are predictions only, and actual events or results could differ materially from those made in any forward-looking statements due to a number of risks and uncertainties. Actual results and trends may differ materially from historical results or those projected in any such forward-looking statements depending on a variety of factors. These factors include, but are not limited to, customer acceptance and demand for our VoIP products and services, the reliability of our services, the prices for our services, customer renewal rates, customer acquisition costs, actions by our competitors, including price reductions for their telephone services, potential federal and state regulatory actions, compliance costs, potential warranty claims and product defects, our needs for and the availability of adequate working capital, our ability to innovate technologically, the timely supply of products by our contract manufacturers, potential future intellectual property infringement claims that could adversely affect our business and operating results, and our ability to retain our listing on the NASDAQ Capital Market. For a discussion of such risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see 'Risk Factors' in the Company's reports on Forms 10-K and 10-Q, as well as other reports that 8x8, Inc. files from time to time with the Securities and Exchange Commission. All forward-looking statements are qualified in their entirety by this cautionary statement, and 8x8, Inc. undertakes no obligation to update publicly any forward-looking statement for any reason, except as required by law, even as new information becomes available or other events occur in the future
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