Fourth quarter results for
(Nasdaq:VOCL) released today read like earlier reports. The company shows impressive growth but does not seem to be able to control amounting losses.
VocalTec reported quarterly earnings of $12.3 million, a 9% increase over previous quarter and a 60% increase over the equivalent quarter 1999. Losses came in at $4.4 million or 36 cents a share, compared to $5.1 million or 51 cents a share for Q4 99 and losses of $4.5 million for third quarter 2000.
There results are pretty much as expected by Nessuah Zannex analysts, who quoted 34 cents a share.
The Surf & Call division and the IP telephony division collaborated well on various telephony carrier projects, said CEO Alon Ganor. The voice-based e-commerce project with Deutsche Telekom is yet another example. He added that he expects additional Surf & Call projects throughout 2001.
In early 2000 the company announced that it would split into three business divisions. One division would be devoted to Voice over IP. A second division would focus on Surf & Call - a service enabling surfers to chat with salesmen when visiting e-commerce sites, or to receive service through voice commands. The third, the The TrulyGlobal division, is a portal that provides customers with VoIP services.
Ganor notes that the increase of repeat business is one of the factors that contributed to this quarter's high income. The elevated rate of business from existing clientele indicates a high level of satisfaction with the solutions the company provides, he says.
For the year, the company reported income of $42 million, a 58% increase over 1999. The net loss for 2000 is $28.8 million, or $2.18 per share, after dilution, Compared with a loss of $28.4 million for 1999.