8x8 reports slight growth

8x8, the provider of Packet 8 broadband services, announced its fiscal 2Q2009 results Thursday, and it finds itself in a considerably better position year-over-year. Although 8x8's income is down to $44,000 from $1.2 million last quarter, it now is debt free and has $16 million in cash, while last year's 2Q report showed a $2.6 million net loss.

The company added 1,846 new customers in the quarter, bringing its total customer base to more than 13,700 companies, according to the release. It also grew its cash and investments for the sixth-consecutive quarter, bringing its total to $15.8 million, an increase of $1 million from last quarter and nearly $3 million from the same fiscal period in 2008. Revenue was up a slight $100,000 from last quarter, increasing to $16.4 million from $16.3 million.

"8x8's money saving Virtual Office communications services are more critical than ever to businesses," said 8x8 Chairman & CEO Bryan R. Martin, in the release. "With nearly $16 million in cash and no debt, the Company remains well positioned in its efforts to transition more and more small businesses away from budget-wasting legacy phone solutions." 

For more:
- see the 8x8 release here [1] 

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