Revenue for the third quarter 2008 grew to $226 million, up 7% from $211 million in the third quarter 2007. The company added 9,500 net subscriber lines in the third quarter 2008 and finished the quarter with more than 2.6 million lines in service.
For the first nine months of 2008, the company posted net loss of $23.66 million, or $0.15 per share, compared to net loss of $81.36 million, or $1.63 per share, in the corresponding period of 2007. The company posted revenues of $678 million for the first nine months of 2008, compared to $612.37 million in the comparable period of 2007.
Marc Lefar, CEO of Vonage, said: We reported our fourth consecutive quarter of positive adjusted operating income delivering a record level $15 million in the third quarter. Pre-marketing operating income also represents a record high of $91 million. Shortly after the quarter ended, we refinanced $253 million of convertible debt despite one of the most difficult capital market environments in our nation’s history.
