Telanetix, a US-based IP communications company, has posted a net loss of $6.88m, or $0.22 per basic share, for the fourth quarter ended December 31, 2008, compared to a net loss of $1.23m, or $0.06 per basic share, in the same quarter of 2007.
The company posted total revenues of $8.47m for the fourth quarter of 2008, up 14.4% compared to $7.41m in the corresponding period of 2007.
Total revenues for the full year 2008 increased to $32.62m from $12.18m in 2007. The company posted a net loss of $9.68m, or $0.48 per basic share, for the year ended December 31, 2008, compared to a net loss of $10.63m, or $1.06 per basic share, for the year 2007.
Doug Johnson, CEO of Telanetix, said: During 2008, we successfully grew our award winning voice business, significantly reduced costs and transformed our capital structure during the challenging economic environment. Mid-year, we launched our Digital Phone Service (DPS) and quickly partnered with Costco Wholesale.
Combined with our debt restructuring, we believe we will improve our financial position in 2009. Furthermore in 2009, we expect to deliver double digit annual revenue growth, to continue to improve our gross margin and to benefit from first quarter 2009 cost reductions.
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