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Description:
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8x8, Inc. (8x8) develops, markets and sells telecommunication services and technology for Internet protocol (IP) telephony and video applications. The Company offers the Packet8 broadband voice over Internet protocol (VoIP) phone service, Packet8 Virtual Office service and Packet8 videophone equipment and service. Packet8 is an Internet-based communication service that works over any high-speed Internet connection, and allows calls to or from any phone in the world, whether that phone is an IP phone or a regular public switched telephone network (PSTN) phone. As of March 31, 2006, 8x8 had approximately 133,000 Packet8 lines in service. Lines in service represent subscriber lines of the Company's residential, business and videophone subscribers, and include toll-free and virtual phone numbers. For the fiscal year ended 31 March 2006, 8X8, Inc.'s revenues totaled $31.9M, up from $11.5M. Net loss increased 26% to $24.1M. Revenues reflect increased license & service revenues and higher product revenues. Higher loss reflects increased selling, general & administrative expenses, higher research & development expenses, increased cost of license & service revenues and higher cost of product revenues.
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