AltiGen Communications, a provider of VoIP business phone systems, has reported a net loss of $810,000, or $0.05 per share, for the fourth quarter 2008, compared to a net loss of $144,000, or $0.01 per share, in the same quarter of 2007.
For the fourth quarter of 2008, revenues were $5.1 million, compared to $5.2 million in the same quarter 2007 and $4.8 million in the preceding quarter. Gross margin was 58.4 percent, compared to 56.5 percent a year ago and 58.8 percent in the preceding quarter. Operating expenses totaled $3.9 million, compared to $3.2 million a year ago and $3.9 million in the preceding quarter, reflecting the increased investment in research and development and sales and marketing.
According to the company, for the fiscal 2008, revenues were $19 million, compared to $17.9 million for fiscal 2007. Net loss was $3.9 million, or $0.25 per share, compared to a net loss of $936,000 or, $0.06 per share, for fiscal 2007.
The report says that net loss for the fourth quarter was $810,000, or a loss of $0.05 per share, compared to a net loss of $144,000, or a loss of $0.01 per share in the fourth quarter in 2007, and a net loss of $1.0 million, or a loss of $0.07 per share, in the preceding quarter.
Phil McDermott, CFO of AltiGen, said: We achieved positive cash flow in the fourth quarter, reflecting the cash contribution from our support programs. We ended the fourth quarter with cash and short-term investments of $9.9 million, a $400,000 increase over the third quarter, and have no long-term debt.