8x8 Announces Record Fourth Quarter Financial Results

Revenue +24.4% Year-Over-Year; Quarterly Revenue Record of $18.2M

By Neil Zawacki
Updated: May 12, 2011

8x8 Announces Record Fourth Quarter Financial Results

8x8, Inc. has just announced their financial operating results for the fourth quarter and full fiscal year of 2011. They made a record $18.2 million in total revenue during the fourth quarter, a full 14.6% higher than the $15.9 million they generated in that time period the previous year.

The financial operating results indicated that the company had added 3,009 new business customers during the fourth fiscal quarter, a moderate increase from the 2,798 new customers they gained the previous quarter. The results also stated that business customer churn during the fourth quarter was 2.3%, and that they had 24,385 business customers by the end of the period.

Operating income for 8x8, Inc. increased to $2 million in the fourth fiscal quarter of 2011. This was 128.7% higher than the same period the previous year, in which the company only had access to $889,000. The net income of the fourth quarter was also $2 million, or $0.03 per diluted share.

The Full Year Fiscal 2011 report indicated that total revenue for the company was a record $70.2 million, up 10.7% from the previous fiscal year. The gross margin as a percentage of sales was $67.8%, while the service gross margin was 77.7%. Research and development expense was only $4.8 million, while selling, general, and administrative expense managed to reach $36.5 million.

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