Vyke 3Q numbers boost shares

UK-based Vyke Communications's third quarter numbers have boosted the company's stock price for today. At press time, Vyke's stock was up 3.5 percent and had peaked at almost 5 percent up early today.

Vyke says it is on track to become EBIDTA and cash flow positive on an ongoing month by month basis by the end of the year. It reports 1.8 million customers, an increase of 326 percent compared to 3Q 2007. It has been adding customers at an average of 14,000 per day since 2004. The company says it has a "strong start" with twenty-one Fortune 500 companies participating in its pilot mobile VoIP projects.

Late in September, Vyke sold off its declining calling card business to Direct Connect International and expects to get $1.65 million over the next three years on an earn-out basis; the sale also freed up $50K per month in assorted equipment, hosting and legal expenses.

From a business perspective, Vyke has avoided the "me too" trap of many mobile/web VoIP companies. It has aggressively adopted a Wi-Fi strategy and has a targeted marketing strategy to bring Asian expats onboard.

For more:
- Proactive Investor reports [1] on Vyke share prices up on 3Q numbers

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Vyke targets Asian expats in UK - FierceVoIP [2]
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