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Vonage current situation - Essay Example

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Vonage Holdings Corporation1 is a software technology company that provides broadband network services by enabling the high-quality voice and messaging services across multiple devices and locations. It is an internet phone provider offering low prices to residential, small…
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ID # 5448 Order # 325643 d 8th October 2009 Vonage current Situation Vonage Holdings Corporation1 is a software technology company that provides broadband network services by enabling the high-quality voice and messaging services across multiple devices and locations. It is an internet phone provider offering low prices to residential, small office and home customers. It transmits calls through voice over Internet protocol (VoIP) technology, which converts voice, signals into digital data packets for transmission over the Internet (The New York Times, 2007). It has a large customer base in USA and other nations like Canada and United kingdom and it is reported that approximately 2.5 million subscribers use the technology from Vonage as on 31st December 2008. The company claims that its technology is unique as it allows higher flexibility, more features, low cost and ease in operation and size. It has
1 Vonage – Refining Communications. Web. 8 October 2009. .
reached higher number of customers due to announcement of free unlimited calling to landline phones in all cities and locations in more than 60 countries. It also provides important facilities like call waiting and call forwarding at an affordable price. It is in touch with all the customers of different nations through web and it connects to people in USA through national retailers like Best Buy and Wal-Mart Stores Inc. Recently it launched Vonage Mobile which is its first mobile calling service and it is considered to be a free downloadable service that enables low cost international calling through cellular network or Wi-Fi. Vonage Holdings Corp. has its headquarter in Holmdel, New Jersey.
Current financial performance of Vonage
Its financial status has been improved considerably relative to previous year. Though its operating revenue recorded for the second quarter i.e. April-June 2009 was lesser ($222 million) than that recorded in second quarter of 2008 ($227.5 million), it recorded a net profit of $2.28 million in 2009 compared to a net loss of $6.88 million in 2008. This is due to reduction in operating expenses in 2009. The average monthly direct costs of telephony services per line was reduced to $6.76 in 2008 from $7.22 in 2009 resulting in reduction in operating expenditure which in turn resulted in higher net profit.
Vonage has gone to public in May 2006 though IPO for raising $250 million and registered as public company with New York Stock Exchange. Around 13.5% of its shares were sold to the public and 60 % of its shares were retained with the directors of the company.
Stock performance
It was quoted at $1.76 on 7th October 2009. Its 52 week high and low values were $2.63 and $0.31 respectively which indicate that the stock was highly volatile in nature and subjected to diverse market fluctuations. Its market capitalization value as on 8th October 2009 is $314 million.
References
Holson, L.M. “A settlement by Vonage over patents”. Vonage Holdings Corporation. The New York Times. 9 October 2007. Read More
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