The company experienced continued improvement in quarterly revenues and net income; $2M and $700k respectivly. The company faced a $2.2M loss in 2009, however this is a great improvement from the $5.5M loss in 2008.
Ido Gur, VocalTec’s President and CEO, said, “We are pleased with our results, especially since despite a tough year in the Telecom industry, we showed continued growth in revenue and a reduction in costs. This demonstrates that we are very much on the right track to achieving sustained profitability. We also saw a high level of booki
ngs in 2009 and our year-end backlog going into 2010 is strong, providing us with an increased level of visibility.”Mr. Gur continued, “Our fourth quarter was also eventful from an M&A standpoint. We purchased substantially all of the assets of Outsmart, and we are happy to already report a first order. The acquired technology enables us to capitalize on the convergence between mobile and VoIP - a trend that is becoming increasingly prevalent, with global mobile VoIP users expected to exceed 280 million by 2013.”
VOCL is starting to see some growth in revenues and profits. If VocalTec can continue to explore M&A opportunities for addititonal long-term growth they could be a company to look out for in 2010.
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