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Telanetix Announces Third Quarter 2007 Results

November 15, 2007 | Chris Payatagool

telanetix_300x87px.jpgAchieves Third Quarter Revenue of $2.3 Million -- Provides Outlook: Projects Fourth Quarter Revenue of Approximately $7.1 Million -- Implementing AccessLine Acquisition Integration

SAN DIEGO, Nov. 14 -- Telanetix, Inc. a leading provider of IP communication solutions to the SMB and SME markets, announced financial results for the third quarter and nine-month period ending September 30, 2007.

"We are executing our plan to be a leading IP communication solution provider with the strongest telepresence, voice and data offering," said Tom Szabo, Chairman and CEO of Telanetix. "As previously announced, we closed our acquisition of AccessLine Communications in mid-September and are integrating the sales, support and financial teams to create business and economic efficiencies. We continue to gain traction in the market with our range of fully featured telepresence products and through expansion of our distribution channel in the United States. We also expanded the reach of our AccessLine voice products into the Western Region of the U.S. with the addition of 130 rate centers. Overall, we are making significant progress in the integration of voice, video and data into one single, unified IP platform designed for the SMB and SME markets."

Third quarter 2007 revenues were $2.3 million and included revenue from the company's AccessLine Division for the period September 15th to 30th as Telanetix closed its AccessLine acquisition on September 14th.

Third quarter 2007 cost of goods sold were $1.7 million. Operating expenses for the third quarter of 2007 were $2.6 million, which included $241,000 of stock based compensation. Third quarter 2007 net loss was $3.3 million, or $0.17 per share.

Total revenues for the nine-month period ended September 30, 2007 were $4.8 million. Net loss for the nine-month period in 2007 was $9.9 million, or $0.59 per share.

Telanetix had $5.6 million in cash at September 30, 2007.

Outlook

"We are extremely well positioned for growth in the telepresence and hosted VoIP markets," said Rick Ono, Telanetix's President and Chief Operating Officer. "In addition to new product features that increase the utility of our products for wider market appeal, we are working to expand our reseller channels in North America and targeting relationships in Europe. Because of this and the potential marketing benefits created as a result of synergies through the merger, we expect fourth quarter revenue to be approximately $7.1 million."

Recent Corporate Highlights

-- Acquired AccessLine Communications, an award winning provider of hosted VoIP services, on September 14th.

-- Received Frost & Sullivan's "2008 North American Telepresence Emerging Company of the Year" in November for its advancements in technology and for market growth of its telepresence products.

-- Won Kaufman Bros., L.P. contract to install Digital Presence(TM) in Kaufman's three U.S.-based offices.

-- Expanded the AccessLine Business Phone footprint by partnering with 360networks, a leading U.S. provider of fiber optic network communications with 130 rate centers.

-- Expanded its value added reseller channel program by partnering with Quintum Technologies, a VoIP access solution provider.

-- Won award from FastCall411, a new consumer local directory that integrates artificial intelligence, VoIP and parallel dialing.

-- Selected by Medical Teams International, a major disaster relief organization with more than 240 in-country organizations in more than 70 countries, for AccessLine Business Phone Service.

-- Upgraded existing Digital Presence(TM) functionality and built enhancements into the control panel for new and existing customers.

Conference Call Information


Management will conduct a conference call at 1:30pm PT today to discuss the company's third quarter 2007 results. To access the call in the United States, dial 877-407-0778. To access the call internationally, dial 201-689-8565. The call will also be broadcast live over the Internet and will be available for replay for 90 days at http://www.telanetix.com. A telephone replay will be available two hours after the call through November 16, 2007 by dialing 877-660-6853. To access the call, all parties will need the following replay pass codes: Account #286 and Conference ID # 261380.

About Telanetix, Inc.

Telanetix is a leading internet protocol (IP) solutions provider offering telepresence and voice over IP (VoIP) services to the small-to-medium businesses and enterprise (SMB and SME) markets. By leveraging on ubiquitous network infrastructures, Telanetix's solutions meet the real-world communications demands of its customers. The company's telepresence offering, called Digital Presence(TM), creates fully immersive and interactive meeting environments that incorporate voice, video and data from multiple locations into a single environment at better quality and much lower price than competitors. The AccessLine Division provides VoIP services and gives companies flexible calling solutions at a fraction of the price of traditional telecom providers. Additional information can be found at the Telanetix corporate website, http://www.telanetix.com.

[via CNNMoney]







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