VoiceServe, Inc. Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2011
February 16, 2012 at 10:08 pm IST
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VoiceServe, Inc. reported unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2011. The Company generated revenues of $1.4 million during its fiscal third quarter ended December 31, 2011 against $1.3 million, an increase of 9% compared to the previous fiscal year third quarter. The Company generated operating earnings during its fiscal third quarter of $20,264 which includes non-cash amortization and depreciation of $173,216 against operating loss of $158,580 for the same period a year ago. Net earnings for the current fiscal year third quarter was $179,599, which included a stock warrant revaluation credit of $167,989. This compares to a net loss of $42,407, inclusive of a stock warrant revaluation credit of $116,196 in the previous fiscal year third quarter. Income before income tax was $188,245 against loss of $42,407 for the same period a year ago.
Revenues for the first nine months of fiscal 2012 were $3.6 million against $3.4 million, a 6% increase over the same period of the previous fiscal year. The Company reported a net loss for the current fiscal nine month period of $990,148 or $0.02 per basic share, which includes stock based compensation of $589,380 and warrant revaluation charges of $39,822. This compares to a net loss of $510,321 or $0.01 per basic share for the same period of the previous fiscal year, which includes stock based compensation of $319,628 and a warrant revaluation credit of $271,170. The Company's net cash used in operating activities was $323,127 for the current nine month period and $409,311 for the comparable period of the previous fiscal year. Loss before tax was $990,148 against $510,321 for the same period a year ago.
Voiceserve, Inc. is a holding company for its wholly owned subsidiaries VoiceServe Limited (Limited) and VoipSwitch Inc. (VoipSwitch). VoiceServe formed an additional subsidiary: VoipSwitch AG, a Swiss corporation. VoipSwitch AG was formed to coordinate sales and billing activities from Switzerland. VoipSwitch Inc. was formed to provide a future North American presence. Limited is engaged in the telephone communications business from its London, United Kingdom office. Limited offers its software to enterprises and carriers. The software allows communication through the Companyâs exchange via the Internet. The Company is a global Internet communications company. It generates revenue by developing, manufacturing, licensing, and supporting a range of VoIP software products and services for many different types of devices, including a range of cellular telephones.