VoIP Inc's VoiceOne subsidiary doing well and driving company's growth.

VoIP, Inc. announced today that its VoiceOne subsidiary continues to generate substantial increase in monthly minutes of use. Since the new management team joined the Company in September, monthly minutes carried over the Network have increased by approximately 375% due to increased customer usage and the expansion of its facilities based network. The Company’s revenue has also increased by approximately 400% compared to the previous year, due to a higher billable rate per minute. In addition to higher revenue, the Company has also significantly reduced the cost of carrying the traffic.
“We continue to make progress in increasing the utilization of our Network, through the signing up of blue-chip customers,” said Anthony J. Cataldo, VoIP, Inc.'s Chairman and CEO. “At the same time, we have streamlined operations, reduced interest expense and focused on reaching profitability. Despite challenges created by a legacy capital structure, VoIP has never been in a better position to drive revenue growth and improve operating results.”
The Company has significantly reduced costs through investments that it has made in its network. The Company completed the initial phase of its nationwide network infrastructure service through the expansion into additional locations in New York, Florida, Massachusetts and Georgia, which now allows it to service more than 50 million households and business subscriber lines. The expansion includes the build-out of the Company’s own facilities, which replace and expand uncovered areas in the U.S. This has enabled the Company to enhance market penetration, improve quality of service and reduce its overall cost of goods for products and services sold. Additional expansion is expected to continue throughout the year, ultimately enabling the company to offer services in 21 additional states thru use of its own network to more than 200 million subscriber and enterprise lines.
“We continue to enhance our reputation as a quality provider of network carrier services,” said Shawn Lewis, VoIP, Inc.’s Chief Operating Officer. “Several of our recent contract wins reflect our ability to provide low-cost, high quality solutions to leading companies throughout the country.”