Cbeyond, a provider of integrated packages of voice, broadband, and mobile services to small businesses, has reported a net income of $533,000, or $0.02 per diluted share, for the fourth quarter of 2008, a decrease of 95.7%, compared to a net income of $12.49m, or $0.41 per diluted share, for the same quarter of 2007.
For the fourth quarter of 2008, total revenue was $93.87m, an increase of 22.1%, compared to $76.87m for the same quarter of fiscal 2007.
For the fiscal 2008, total revenue was $349.7m, an increase of 24.9% compared to $280.03m in the fiscal 2007. Net income was $3.7m, or $0.12 per diluted share, a decrease of 82.8% compared to a net income of $21.5m, or $0.72 per diluted per share, for the fiscal 2007.
Jim Geiger, CEO of Cbeyond, said: Gross additions were at the highest level in company history during the fourth quarter, customer churn has remained generally stable, average revenue per customer is up year over year, applications used per customer increased to 7 from 6.3 in the corresponding quarter of 2007, and we now serve a third of our customers with mobile services, after introducing the product just three years ago.
