Deltathree Reports Fourth Quarter And Full Year 2010 Financial Results
"In addition to the recent appointment of our new Vice President of Business Development and Sales we have expanded our sales force to further improve our international sales reach and distribution channels, providing a foundation for additional growth. Subsequent to year-end 2010, we also successfully secured an additional $1.6 million in line of credit financing from our largest shareholder to help fund operations as well as additional growth initiatives. With our world-class international VoIP network at the core, we are optimistic for the first quarter of 2011, as we see attractive opportunities for growth in the mobile application, video phone and reseller markets based on the continued demand for next generation communications solutions," concluded Mr. Baruch.
For the fourth quarter of 2010, deltathree reported total revenues of $4.2 million compared with $3.5 million in the third quarter 2010 and $3.7 million reported for the fourth quarter of 2009. For the full year 2010, deltathree reported total revenues of $14.2 million compared to $19.0 million for the full year 2009. The year-over-year decline in full year revenue was primarily related to the suspension of the operations of deltathree's then-largest reseller customer in the fourth quarter of 2009.
Fourth quarter 2010 GAAP net loss totaled $481,000, or $(0.01) per diluted share, compared to a GAAP net loss for the fourth quarter of 2009 of $1.1 million, or $(0.02) per diluted share. deltathree's GAAP net loss improved sequentially compared to a GAAP net loss of $729,000, or $(0.01) per diluted share in the third quarter of 2010. Full year 2010 GAAP net loss totaled $2.5 million, or $(0.03) per diluted share, compared to a GAAP net loss for the full year 2009 of $3.2 million, or $(0.05) per diluted share.
Fourth quarter 2010 non-GAAP adjusted EBITDA (as defined below) loss was $308,000, or $(0.00) per diluted share, compared to a non-GAAP adjusted EBITDA loss of $1.2 million, or $(0.02) per diluted share, for the fourth quarter of 2009. deltathree's non-GAAP adjusted EBITDA loss improved sequentially compared to a non-GAAP adjusted EBITDA loss of $331,000, or $(0.00) per diluted share in the third quarter of 2010. Full year 2010 non-GAAP adjusted EBITDA loss was $1.4 million, or $(0.02) per diluted share, compared to a non-GAAP adjusted EBITDA loss of $2.5 million, or $(0.04) per diluted share, for the full year 2009.
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