deltathree posts dismal Q2 results

Deltathree's second quarter financial report brought more bad news for the beleaguered VoIP reseller Thursday. Despite laying off two-thirds of its staff and subleasing its New York offices in the past six months, the company's net loss for the quarter is double that of the same quarter last year. 

A prepared statement accompanying the financial report contained some of the worst news an investor could hear, "At this time the company's management is unable to determine if the company has sufficient funds to continue its current operations over the foreseeable future if it does not receive additional financing."

While deltathree has managed to trim operating costs by around 10 percent, its revenues are down more than 30 percent quarter to quarter.

It doesn't take a math major to see that this is not a sustainable margin for the struggling company, but CEO Dror Gonen still tried to paint a rosier picture of the future,"Overall, I believe we are aligning deltathree to address some of the more attractive segments of the global VoIP market to help drive top line revenue growth while making the difficult, but necessary, changes on the cost structure side to reorient the company towards our goals of positive operating cash flows in the near-term and bottom line profitability in the long-term."

For more:
- Access the full deltathree financial report here. 

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