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Investing

Some Sunlight For Vonage (VG)

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By Douglas A. McIntyre Published

Vonage (VG), know in some quarters as the worst IPO in history, had a decent earnings announcement.

Revenue for the second quarter 2007 grew to a record $206 million, a 43% increase from $144 million in the second quarter 2006  For the second quarter of 2007, the Company’s net loss narrowed to $34 million, or $0.22 per share, from a net loss of $74 million reported in the second quarter 2006  The company had $344 million in cash at the end of the Q.

The company’s CEO said that Vonage had found a way to deal with patent problems that deal to a major lawsuit by Verizon (VZ) "At the same time, we have substantially completed the deployment of workarounds for the two name translation patents and have completed the development of the wireless patent workaround. This is a significant step toward moving ahead with our business in the wake of the Verizon litigation. We look forward to the Court’s ultimate decision and remain confident in the strength of our appeal."

The success of the workaround remains to be seen, at least from the point of view of the legal system.

Douglas A. McIntyre

Some

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About the Author Douglas A. McIntyre →

Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.

McIntyre has written thousands of articles for 24/7 Wall St. He is an expert on corporate finance, the automotive industry, media companies and international finance. He has edited articles on national demographics, sports, personal income and travel.

His work has been quoted or mentioned in The New York Times, The Wall Street Journal, Los Angeles Times, The Washington Post, NBC News, Time, The New Yorker, HuffPost USA Today, Business Insider, Yahoo, AOL, MarketWatch, The Atlantic, Bloomberg, New York Post, Chicago Tribune, Forbes, The Guardian and many other major publications. McIntyre has been a guest on CNBC, the BBC and television and radio stations across the country.

A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.

TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.

McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.

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