Fourth Quarter Revenue Up 15% to $5.2 Million due to Growth in System Sales — Board Approves Share Repurchase Program for Up to $2 Million -
November 14, 2007: 04:05 PM EST
FREMONT, Calif., Nov. 14 /PRNewswire-FirstCall/ — AltiGen Communications, Inc. , a leading provider of VoIP business phone systems and Unified Communications solutions for small-to-medium businesses (SMBs), including companies with multiple distributed locations, branch offices and call centers, reported its financial results for the fiscal 2007 fourth quarter and year ended September 30, 2007.
Gilbert Hu, chairman and CEO, stated, “Our record fourth quarter revenue reflects our efforts to accelerate growth and build shareholder value. During 2007, we strengthened management, expanded the sales model, enhanced our products and began executing on our new strategic business plan. As a result, in the fourth quarter, we increased both revenue by 15 percent, compared to the fourth quarter of 2006, and gross profit to 56 percent of revenue, versus 55 percent last year. We are very excited about the upward trend in revenue this quarter, and we believe this solid momentum will continue.”
Jeremiah Fleming, AltiGen’s president and COO, said, “Over the past six months, we placed a significant focus on amplifying our distribution channel. During this time, we doubled our sales organization by adding channel sales, strategic account and telemarketing personnel. We continue to integrate quality value added resellers (VARs) into our team and currently have well over 200 in North America. We recently reached an agreement with a leading North American master distributor of business telephone and computer telephony products, bringing exposure to thousands of resellers. We also released the new 5.1 version of our award-winning IP-PBX, which enables us to support lower cost IP trunking and standard third party endpoints and has resulted in greater scalability. The combination of all these factors with our new automated multi-site enterprise communications manager has positioned us well to capture the growing demand for VoIP and Unified Communications among small, medium and multi-site businesses.”
“In fact, the market’s increasing emphasis on Unified Communications bodes particularly well for AltiGen, as we offer solutions that unify the various aspects of business communications — such as voice, email, fax and messaging — across one or more locations,” Fleming added. “Our single server architecture provides an integrated VoIP business phone system and Unified Communications platform that immediately delivers increased productivity and cost savings. Simultaneously, our software-based system enables companies to implement the features they need now, with the security that they can easily add more features, users and locations as future growth requires.”
