Vertical Communications (VRCC.OB) a leading provider of IP-based phone systems and applications, has disclosed financial results for the fourth quarter of fiscal 2007 that ended June 30, 2007.
For the fourth quarter; net revenue totaled $22.5 million, a significant improvement from the revenue that totaled $15.0 million during the same quarter in FY 2006. This is an increase of over 50%, which can be attributed to acquisition of Vodavi Technology, Inc.
Cost of sales during this period was $12.9 million, compared to $7.0 million during the same fiscal quarter of 2007. Additionally, Gross profit for the fourth quarter of fiscal 2007 was $9.6 million, up 20% from $8.0 million in the same quarter of fiscal 2006, which also attributed to the acquisition of Vodavi.
Loss from operations for the fourth quarter of 2007 was $3.5 million, another significant improvement from FY 2006. During the same period in 2006, loss from operations was $4.0 million, a great improvement for the future of the company.
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