This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

8x8, Inc. Announces Third Quarter Fiscal 2013 Results

Stocks in this article: EGHT

8x8, Inc. (NASDAQ: EGHT), provider of innovative cloud-based business communications and computing solutions, today announced record financial operating results for the third quarter of fiscal 2013 ended December 31, 2012.

Third Quarter Fiscal 2013 Financial Highlights:

  • Total revenue for the quarter increased 17% year-over-year to a record $27.3 million from $23.3 million in the same period of fiscal 2012.
  • Revenue from business customers grew 22.2% during the quarter from the same period last year and comprised 97% of total revenue for the quarter.
  • Overall gross margin was 68.3% compared with 67.8% in the prior quarter and 67.9% in the same period last year.
  • Service gross margin was 78.1%, compared with 75.9% in the prior quarter and 76.9% in the same period last year.
  • GAAP net income was $1.9 million, or $0.03 per diluted share, compared with $2.6 million, or $0.04 per share, for the same period last year.
  • Non-GAAP net income (as outlined in the reconciliation table below) was $3.8 million, or $0.05 per diluted share, compared with $3.7 million, or $0.05 per diluted share, in the same period a year ago.
  • Ended the quarter with $46.5 million in cash, cash equivalents and investments compared with $40.1 million in the prior quarter and $21.9 million on December 31, 2011.
  • Cash flow from operating activities was $6.6 million for the quarter compared with $3.2 million in the same period last year.

“I am pleased to report another quarter of record revenue along with a substantial uptick in our service margins,” said 8x8 Chairman & CEO Bryan Martin. “Our focus on service margin improvement combined with our continued double-digit revenue growth and consistent profitability are a testament to 8x8’s ability to deliver advanced cloud-based services in a highly efficient and profitable manner to a continually growing base of larger customers.”

1 of 7

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,053.71 +23.50 0.13%
S&P 500 2,088.77 +6.89 0.33%
NASDAQ 4,806.8590 +33.3870 0.70%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs