Fusion (OTC Bulletin Board: FSNN) recently shared financial results for the quarter ended September 30, 2009.Fusion reported Consolidated Revenues of $11.9 million for the quarter ended September 30, 2009. This represented a decrease of 17% compared to revenues of $14.3 million for the quarter ended September 30, 2008, but was an improvement of 37% over the second quarter of 2009. The change over the prior year was primarily attributable to a decrease in revenues in the Company's Carrier Services segment. Revenues from the Company's Corporate Services segment increased 170% when compared to the second quarter of 2008.
Free Hot Penny Stocks, an online financial publication, provides investors timely stock market alerts. Free hot penny stocks profiles stock picks that could generate higher returns than average. These penny stocks include stocks with news, chart breakouts or increased volume.
Sign Up Today for our Penny Stock Newsletter
The third quarter represents the sixth consecutive quarter of double digit growth in revenue, with third quarter 2009 revenues of $0.3 million representing an increase of approximately 30% over the second quarter of 2009 and 95% over the first quarter of 2009. As part of this targeted focus, Fusion has also expanded its sales efforts through the hiring of several experienced corporate and carrier sales executives that should help accelerate revenue growth and optimize gross margins in these segments. As a result of these efforts, the third quarter of 2009 was the Fusions's best quarter in Adjusted EBITDA (earnings before interest, taxes, depreciation, amortization, and specific non-recurring and non-cash adjustments) performance since the Company's Initial Public Offering in the first quarter of 2005. For the quarter ended September 30, 2009, the Adjusted EBITDA loss decreased $0.4 million, or 25%, to ($1.1) million, compared to an Adjusted EBITDA loss of ($1.5) million for third quarter of 2008.Fusion also reported a decrease in Net Loss applicable to Common Stockholders of ($0.76) million, at ($1.97) million or ($0.03) per share for the quarter ended September 30, 2009, compared to a Net Loss applicable to Common Stockholders of ($2.73) million or ($0.07) per share for the quarter ended September 30, 2008. This improvement resulted primarily from the decreased losses from discontinued operations combined with the improvement in gross margin from continuing operations. The associated decrease in loss per share compared to the prior year also reflected an increase in the number of shares outstanding. The Net Loss from Continuing Operations in the third quarter of 2009 was ($1.7 million), which was a 23% improvement from the Net Loss from Continuing Operations in the third quarter of 2008. Sharing his thoughts Matthew Rosen, CEO of Fusion, said, "I am pleased to report several key improvements during the third quarter of 2009 that demonstrate significant progress in achieving the milestones we have set for achieving profitability. . Our accomplishments resulted from executing on commitments made six months ago to exit the consumer business, reduce costs wherever possible, expand our sales efforts, and focus on growing revenues and gross margin contribution from the carrier and corporate segments. We are delighted with the progress demonstrated by this quarter's results, and we believe that strong sales growth, combined with continuing expense reduction, will position us well for continued improvements in financial results." Expanding on Mr. Rosen's comments, Don Hutchins, President and Chief Operating Officer of Fusion, said, "We are particularly pleased with the revenue growth in our corporate business segment, when compared to the same period in 2008, and the significant improvement in margin contribution from both our corporate and carrier segments. We were also pleased to see not only significant growth in new corporate customers but also a doubling of add-on orders from our existing customer base that demonstrates the loyalty of our customers and the attractiveness of our suite of business communications services."
Sign Up for Free Hot Penny Stocks’ FREE Penny Stock Newsletter.
About Us
Free Hot Penny Stocks is a financial website and independent electronic publication that provides information and free penny stock alerts on selected publicly traded companies. We also track small cap companies and other stocks that may be positioned to break out. These penny stocks might have news, increased volume or chart breakouts. These penny stocks that are alerted could generate greater than average returns. Feel free to visit our penny stock forum to discuss other penny stock picks or penny stocks that you might own.
Free Hot Penny Stocks is not a registered investment advisor or broker-dealer. Please do your own Due Diligence before investing in any of the stocks mentioned above. To feature a company on our web site please contact us at the email listed below.
Please click here to read the full disclaimer
