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, 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.