CounterPath Corp., a provider of desktop and mobile VoIP software products and solutions, today announced its financial and operating results for its first fiscal quarter of 2012 ended July 31, 2011.
CounterPath reported first-quarter revenue of $2.8 million, a 24 percent increase over the $2.2 million reported for the comparable three months of fiscal 2011. Software revenue for the quarter ended July 31, 2011, was $1.6 million compared to $1.8 million for the same quarter last year. Service revenue for the first quarter was $1.2 million compared to $0.4 million for same quarter last year.
CounterPath posted a non-GAAP operating loss of $0.4 million compared to a non-GAAP operating loss of $0.9 million for the quarter ended July 31, 2010.
Net loss for the first quarter at $0.9 million, or $(0.03) per share, was an improvement over the net loss of $1.4 million, or $(0.04) per share, reported in the first quarter of the year prior.
The company also highlighted several achievements throughout the 12 months of fiscal 2012:
• The launch of the Client Configuration Server (CCS) designed to enable enterprises and service providers to deploy, configure and manage their softphone deployments;
• A newly granted patent covering the automatic configuration of peripheral devices such as VoIP softphones, headsets and speakerphones;
• The release of Bria iPad Edition Version 1.0, a standards-based, service agnostic softphone for making and receiving calls over a Wi-Fi or a 3G/4G mobile connection;
• The closing of a private placement under which the company raised $7.1 million including the exercise of warrants for $1.5 million in July and August and the conversion of all of the company’s convertible debt to equity.
“This last quarter was highlighted by continued effort toward customization for a Tier One rollout expected later this year which is anticipated to lead to broader adoption of our applications,” Donovan Jones, president and CEO of CounterPath stated in the press release. “Our recently completed financing will enable CounterPath to broaden our resources and accelerate the sales and marketing of our applications. … Our strategy of enabling anytime, anywhere communications is well timed given the current market shift to mobilizing consumer and office workers, and we are well positioned as a leader in providing softphone applications for network equipment providers, enterprises and service providers.”
For more information visit www.counterpath.com
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