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TMCNet:  CounterPath Posts 2nd Quarter Fiscal 2013 Financial Results

[December 18, 2012]

CounterPath Posts 2nd Quarter Fiscal 2013 Financial Results

Dec 18, 2012 (Close-Up Media via COMTEX) -- CounterPath Corp., a provider of desktop and mobile VoIP software products and solutions, has announced the financial and operating results for its fiscal 2013 second quarter ended Oct. 31.

In a release on Dec. 13, the Company noted details of its second quarter results: Second Quarter Financial Highlights -Quarterly revenue of $3.6 million, a 3 percent increase year-over-year. Revenue for the six months ending Oct. 31, of $8.0 million, a 28 percent increase year-over-year -Gross margin of 82 percent in Q2 2013 versus 81 percent in Q2 2012 and a non-GAAP gross margin of 83 percent.

-Non-GAAP loss from operations of $0.3 million compared to non-GAAP income from operations of $0.1 million for the second quarter of fiscal 2012.

-Net loss of $0.3 million (or loss of $0.01 per share), compared to a net income of $0.1 million (or $0.00 per share) for the second quarter of fiscal 2012.

-Non-GAAP net loss of $0.3 million (or loss of $0.01 per share), compared to a non-GAAP net income of $0.2 million (or $0.00 per share) for the second quarter of fiscal 2012. For the six months ended Oct. 31, non-GAAP net income was $0.2 million (or $0.00 per share).

-Cash of $11.7 million as of Oct. 31.

"While year-to-date sales growth was solid based on an exceptionally strong first quarter, growth in the second quarter was affected by some delays in sales from our channel partners as we transition a greater share of our contract business from direct sales to the channel, as well as the continued economic challenges in Europe," said Donovan Jones, President and CEO. "The opportunity continues to grow for our offerings with carriers looking to offer voice and video on multiple end user devices, leveraging data and WiFi networks and enterprises looking to create cost savings and increased productivity extending communications services to mobile devices. Overall, with a strong sales pipeline, channel partners coming on-line and favorable long-term market trends, our outlook for continued growth remains very positive." continued Jones.

Recent Operational Highlights -Announced an agreement to provide the Bria mobile and tablet softphone applications to Altibox, a Norwegian triple-play service provider, enabling their customers to make mobile calls using their home phone number regardless of their location.

-Announced an agreement with Nippon Telegraph and Telephone Software Corp. that will enable Japanese enterprises to extend unified communications and fixed-mobile convergence services to their customers' mobile workers, telecommuters and business travelers.

-Rogers Communications, a provider of wireless voice and data communications services and one of Canada's providers of cable television, high-speed Internet and telephony services launched the iOS and Android tablet applications late in the second fiscal quarter for Rogers One Number service based on CounterPath's technology.

-Released new features for the Client Configuration Server, a carrier-grade solution enabling enterprises to remotely manage all of their Bria desktop, mobile and tablet softphones and address and the challenges inherit in the "bring your own device" (BYOD) to work trend.

More Information: counterpath.com ((Comments on this story may be sent to newsdesk@closeupmedia.com))

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