Vonage Holdings Corp got new customers and cut its fourth-quarter loss.
Vonage's net loss was $11.1 million, or 7 cents per share, from a loss of $117 million, or 76 cents a share a year earlier.
Vonage is going to review results from its second and third quarters in 2007, to correct the amount of non-cash stock compensation expenses it posted for those periods.
Analysts had expected a loss of 10 cents a share. The corporation’s loss was 6 cents a share.
Though Vonage shares have grown higher recently, they are still down more than 65 percent from one year ago. And there is also constant competition from phone and cable companies, which offer bundles of services that include voice, Internet, and video.
Vonage is a publicly held commercial voice over IP network and SIP company that provides telephone service via a broadband connection (the company's name is a play on their motto "Voice-Over-Net-AGE").