Business
CounterPath Reports First Quarter Fiscal 2012 Financial Results
VANCOUVER, Sept. 14, 2011 /CNW/ - CounterPath Corporation ("CounterPath" or the "Company") (O...
About this update from Newpath Resources Inc
[{"type":"text","content":"\n\n\n\n\n\nVANCOUVER, Sept. 14, 2011 /CNW/ - CounterPath Corporation (\"CounterPath\" or the \"Company\") (OTCBB: CPAH) (TSX-V: CCV), an award-winning provider of desktop and mobile VoIP software products and solutions,\n today announced the financial and operating results for its first\n fiscal quarter of 2012. The Company's fiscal year runs May 1 to April\n 30.\n\n\nFinancial and operating highlights for the first quarter ended July 31,\n 2011, include:\n\n\nRevenue of $2.8 million, a 24-percent increase year-over-year.\n\nA non-GAAP operating loss of $0.4 million compared to a non-GAAP\n operating loss of $0.9 million for the quarter ended July 31, 2010.\n\nA net loss of $0.9 million or a loss of $0.03 per share, compared to a\n net loss of $1.4 million or a loss of $0.04 per share, for the quarter\n ended July 31, 2010.\n\nThe launch of the Client Configuration Server (CCS) designed to enable\n enterprises and service providers such as telcos, cable providers and\n ITSPs to deploy, configure and manage their softphone deployments.\n\nA newly granted patent, No. 7,958,276, which covers the automatic\n configuration of peripheral devices such as VoIP softphones, headsets\n and speakerphones. When combined with the CCS, this feature enables an\n IT department to simplify implementation and achieve zero-touch\n deployments.\n\nThe release of Bria iPad Edition Version 1.0, a standards-based, service\n agnostic softphone for making and receiving calls over a Wi-Fi or a\n 3G/4G mobile connection. (Available in the Apple iTunes Store.)\n\nThe closing of a private placement under which the Company raised $7.1\n million including the exercise of warrants for $1.5 million in July and\n August and the conversion of all of the Company's convertible debt to\n equity.\n\n\n\"This last quarter was highlighted by continued effort toward\n customization for a Tier One rollout expected later this year which is\n anticipated to lead to broader adoption of our applications,\" stated\n Donovan Jones, President and CEO of CounterPath. \"Our recently\n completed financing will enable CounterPath to broaden our resources\n and accelerate the sales and marketing of our applications. We are\n seeing improved market conditions for our applications, evidenced by\n growing market shares for Android and iOS smartphones which, according\n to a report publ...