“While we often see some seasonality for increased churn in the December quarter due to the end of the tax year, business customer churn was at its lowest quarterly levels ever at 1.6%. Revenue churn, which generally lags customer churn, did increase during the third fiscal quarter due primarily to specific issues with a handful of customers unrelated to 8x8 service,” continued Martin. “Overall, our revenue and customer growth continues to vastly outpace our churn, and, as evident in our operating metrics, we continue to see expanding growth opportunities with both new and current customers as they take on additional services.”Nine Months Year to Date Fiscal 2013 Financial Highlights:
- Total revenue for the nine months ended December 31, 2012, increased 28% year over year to $79 million from $62 million in the same period of fiscal 2012.
- GAAP net income for the nine months ended December 31, 2012, was $12.3 million, or $0.16 per diluted share, compared with $5.4 million, or $0.08 per diluted share, for the same period last year.
- Non-GAAP net income (as outlined in the reconciliation table below) for the nine months ended December 31, 2012, was $10.9 million, or $0.15 per diluted share, compared with $7.3 million, or $0.11 per diluted share, for the same period last year.
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