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March 2, 2009

Vonage Q4 net loss widens

Operating revenues increased to $222.21m, compared to $215.85m in the fourth quarter of 2007

By CBR Staff Writer

Vonage Holdings, a provider of broadband VoIP services, has posted a net loss of $40.91m, or $0.26 per common share, for the fourth quarter ended December 31, 2008, compared to a net loss of $13.84m, or $0.09 per common share, for the same period in 2007.

Operating revenues for the fourth quarter of 2008 increased to $222.21m, from $215.85m in the same quarter of 2007.

For the full year 2008, the company reported a net loss of $64.57m, or $0.41 per common share, compared to a net loss of $267.42m, or $1.72 per common share, in 2007. For the year 2008, the company reported operating revenues of $900.12m, compared to $828.23m in 2007.

Marc Lefar, CEO of Vonage, said: We improved our financial position throughout 2008, and for the first time in Vonage’s history, delivered adjusted operating profit and positive cash from operations for a full year. Vonage also delivered record level pre-marketing operating income reflecting increasing levels of cash generated by the existing customer base. This progress occurred despite the uncertainty and challenges of the current economy.

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