Business
CounterPath Reports Record First Quarter Fiscal 2013 Financial Results
Quarterly Revenues Grow 59% Year-over-Year VANCOUVER, Sept. 13, 2012 /CNW/ - CounterP...
About this update from Newpath Resources Inc
[{"type":"text","content":"\n\n\n\n\n\nQuarterly Revenues Grow 59% Year-over-Year\n\n\nVANCOUVER, Sept. 13, 2012 /CNW/ - CounterPath Corporation (\"CounterPath\" or the \"Company\") (NASDAQ: CPAH) (TSX: 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 quarter ended July 31, 2012 of fiscal 2013.\n\n\nFirst Quarter Financial Highlights\n\n\nRecord quarterly revenue of $4.4 million, a 59% increase year-over-year.\n\n\nGross margin of 87% and a non-GAAP gross margin of 88%.\n\n\nOperating income of $32,609 compared to an operating loss of $1.0\n million for the first quarter of fiscal 2012.\n\n\nNet income of $0.9 million or $0.02 per share, compared to a net loss of\n $0.9 million or a loss of $0.03 per share for the first quarter of\n fiscal 2012.\n\n\nNon-GAAP net income of $0.5 million or $0.01 per share compared to a\n non-GAAP net loss of $0.5 million or a loss of $0.02 per share for the\n first quarter of fiscal 2012.\n\n\nCompleted private placement on June 19, 2012 for gross proceeds of $3.6\n million.\n\n\nCash of $11.4 million as of July 31, 2012.\n\n\n\n\n\n\"Our first quarter was highlighted by record revenues and solid growth\n during a traditionally slower quarter,\" stated Donovan Jones, President\n and Chief Executive Officer. \"Our direct sales to enterprises and\n telecommunication service providers were strong, contributing to our\n overall growth. Enterprises are increasingly realizing the security,\n productivity and cost saving benefits of our enterprise-grade softphone\n applications, while telecommunication service providers are reducing\n customer churn to over-the-top alternatives, by deploying our\n carrier-grade softphone applications,\" continued Jones.\n\n\nRecent Business Highlights\n\n\nLaunched Bria for Android Tablet Edition, a standards-based softphone\n that enables enterprises to extend VoIP calling and PBX features to\n Android tablets, including employee-owned devices.\n\n\nLaunched the Client Configuration Server (CCS) enabled Bria softphone on\n Apple's iTunes enabling IT managers to centrally deploy, configure and\n upgrade softphone endpoints ultimately reducing support calls to IT\n managers and speeding up softphone deployments.\n\n\nThe Bria iPad Edition mobile softphone application placed third among\...