CounterPath announces fiscal Q3 results

CounterPath, a desktop and mobile VoIP company, announced its fiscal third-quarter results Thursday, showing a year-over-year drop in revenue. CounterPath generated $2 million in revenue in the fiscal third quarter ended Jan. 31, 2009, compared to $2.6 million in the same period in 2008, while its net loss for the quarter of $2.2 million matched the 2008 results.

Both software and service revenue declined year-over-year, as software revenue dipped to $1.3 million from $1.7 million and service revenue fell to $0.7 million from $0.9 million in 2008.

"Our third quarter financial results reflect the decrease in bookings from key OEM customers in the quarter as a direct result of the global economic downturn," CEO Donovan Jones said in a statement. "In the current economic downturn, CounterPath is following a well developed plan to strengthen our business through more efficient operations in an effort to drive profitability."

CounterPath said it is positioned to cut operating expenses and grow revenues, as it has almost fully integrated the assets it acquired when it purchased FirstHand and BridgePort in February 2008. 

For more:
- see the CounterPath press release here [1] 

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