FEATURE: Vonage staunches the bleeding

Vonage staunches the bleeding

Vonage cut its losses by more than half in the second quarter of 2007 compared to a year ago.…

"I am confident we are taking the appropriate steps to turn our business around," said Jeffrey Citron, chairman and interim CEO. "I think we're turning a corner on one of the most difficult periods in Vonage's history."

That period involved losing a patent suit to Verizon in mid-March and briefly being enjoined from signing up new subscribers. The litigation has cost Vonage $16 million so far this year, "which we expect to go down over time," Citron said.

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