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Virtutone Announces $9.12 Million in Revenues for the Month of March

Posted by AGORACOM-JC at 9:18 AM on Tuesday, April 1st, 2014

 

Sherwood Park, Alberta / TNW-ACCESSWIRE / April 1st, 2014 / Virtutone Networks Inc. (“Virtutone” or the “Company”) (TSX Venture: VFX.V) is pleased to announce that the Company has generated over $9.12 million in revenue for the month of March.

“As I said last month, we returned our focus to increasing revenues, while maintaining our increased margins” said Jason Allen, Chief Executive Officer of Virtutone. “This has been the best month we have ever had for margins and look forward to continued growth in April.”

For further information please contact Jason Allen at 780-702-5777.

About Virtutone Networks Inc.

Virtutone Networks Inc. is a technology company based in Sherwood Park and is listed on the TSX Venture Exchange in Canada. The company is a leading supplier of managed telecommunication services, including: Voice over IP services, Fax over IP services, Hosted PBX services, DSL & T1 data circuits, wireless solutions for mobile work forces and SCADA networks, and network management and IT-related products. Additional information can be found on the company’s website at www.virtutone.com.

This document may contain certain forward-looking information or statements (“Forward-looking statements”) as defined under applicable securities legislation that involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks include, without limitation, risks related to: the termination, non-renewal of or default under of any current or new wholesale contracts; changes in the global economy; a failure to negotiate new customer contracts; changes in legislation or the interpretation thereof, particularly in the telecommunications industry. Forward-looking statements are any statements other than statements of historical fact. The use of any “plan” “expect ” “project” “believe” “should” “anticipate” or other similar words or statements that certain events “may” or “will” occur are intended to identify forward-looking statements. In particular, forward-looking statements included in the press release include, without limitation, statements regarding: the impact of the new voice traffic contracts; timing and completion of the transition of new voice traffic; the sustainability of the new revenue stream; increased leverage with suppliers; additional deals currently being worked on and the impact thereof; and negotiations relating to potential new customers. The forward-looking-statements contained herein are based on certain assumptions including, without limitation, assumptions regarding: global economic conditions; changes in laws and regulations; the impact of Virtutone’s new contracts; the market for wholesale telephony services; the maintenance of new and current wholesale contracts; and the ability to add new wholesale clients. Although management believes the expectations reflected in the forward-looking statements contained herein are reasonable, no assurances can be given that any of the events anticipated in forward-looking statements will occur, or, if they do, what benefits Virtutone will derive therefrom. As such readers are cautioned not to place undue reliance on forward-looking statements, which are effective only as of the date of this document or as of the date otherwise specifically indicated herein. Virtutone assumes no obligation to update forward-looking statements, except as required by applicable law. The historical revenue numbers for the new wholesale contracts do not represent estimates of future revenues to be received by the Company. As these contracts do not contain any minimum traffic requirements, revenue generated on such contracts will vary from month to month, and such variations may be material. The Company cannot provide any assurances as to the revenues to be generated by such contracts once the transition is complete.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

$7.7M in February Revenues and +50% In Gross Margins, Virtutone Networks Explains

Posted by AGORACOM-JC at 4:33 PM on Friday, March 21st, 2014

 

Virtutone Networks Inc. is a leading supplier of wholesale telecommunication services. The company generated $7.7M in revenue in February 2014 alone and has received accolades by being ranked #1 fastest growing ICT company in Canada 2012 and “Next 50 ICT Companies” in Canada Branham 2013.

FINANCIAL HIGHLIGHTS

  • $7.7 million in revenue for February/  50% increase in gross margins
  • $9.2 million in revenue for January 2014
  • $8.45 million in revenue for December 2013
  • $7.2 million in revenue for November 2013
  • $3.95 million in revenue for October 2013

Hub On AGORACOM / Corporate Profile / Corporate Website

Virtutone announces 50% increase in gross margins, $7.7M in February Revenues

Posted by AGORACOM-JC at 9:39 AM on Monday, March 3rd, 2014

  • Increased its overall gross margins from 4% to 6%
  • Approximately $7.7 million for the month of February

Virtutone Networks Inc. (“Virtutone” or the “Company”) (TSX Venture: VFX.V) is pleased to announce that the Company has been able to increase its overall gross margins from 4% to 6% through the implementation of new technology. The implementation was successful over the month of February and the Company expects to maintain those margins moving forward.

Virtutone generated revenues of approximately $7.7 million for the month of February, down from the previous month as the company focused on implementing the new technology and because February is a shorter month.

“We are very excited that the new technology was able to produce such a significant improvement in margins, the bulk of which flow to the bottom line,” said Jason Allen, Chief Executive Officer of Virtutone. “Now we will go back to focusing on increasing revenues and profits.”

————-

FINANCIAL HIGHLIGHTS

  • $7.7 million in revenue for February/ Increase in gross margins
  • $9.2 million in revenue for January 2014
  • $8.45 million in revenue for December 2013
  • $7.2 million in revenue for November 2013
  • $3.95 million in revenue for October 2013

WHY VIRTUTONE NETWORKS?

  • Company has purchased five key underlying customers of its largest customer. Adding these key customers will ensure that no one customer represents more than 25% of the Company’s total revenue

  • Recently launched a new Wholesale SMS Division to compliment its current wholesale long distance business
  • Opportunity to be a niche player in the wholesale SMS/MMS hubbing business

RECOGNITION

  • Ranked #1 fastest growing ICT company in Canada 2012
  • “Next 50 ICT Companies” in Canada Branham 2013

At Virtutone the signal is clear.

VoIP Origination

Virtutone Networks provides wholesale origination services from one of the largest footprints in North America. Virtutone also provides international origination services from 73 different countries, with new countries being added weekly. View Origination Services

SIP Trunking

By creating virtual phone lines and linking your various office locations, this innovative solution allows your business to replace costly ISDN PRIs and traditional lines with a simplified infrastructure that can reduce your costs. View SIP Trunking Services

VoIP Termination

Virtutone Networks provides wholesale termination services to telephone companies, VoIP carriers, call centres, satellite service providers, teleports, cable television networks, cellular carriers and managed IT service providers. View Termination Services

Our Network

Virtutone’s business class VoIP Network is designed to provide high performance and scalability at a low unit cost. Virtutone’s VoIP and FoIP network includes POP’s in Canada, United States, Australia and the United Kingdom. View Our Network

Virtutone Featured On BNN Market Call

Scroll to 1:58

BREAKING… Virtutone Announces $9.2 Million in Revenues for the Month of January

Posted by AGORACOM-JC at 9:34 AM on Monday, February 3rd, 2014

  • Company has generated over $9.2 million in revenue for the month of January
  • “$9.2 Million in revenue for the month of January, is a great way to finish off our fiscal year” said Jason Allen, Chief E “$9.2 Million in revenue for the month of January, is a great way to finish off our fiscal year” said Jason Allen, Chief Executive Officer of Virtutone. “With the financing we just closed off, we are set for a record breaking month in February ”

Read Full ReleaseHub On AGORACOMCorporate Website

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FINANCIAL HIGHLIGHTS

  • $9.2 million in revenue for January 2014
  • $8.45 million in revenue for December 2013
  • $7.2 million in revenue for November 2013
  • $3.95 million in revenue for October 2013

WHY VIRTUTONE NETWORKS?

  • Company has purchased five key underlying customers of its largest customer. Adding these key customers will ensure that no one customer represents more than 25% of the Company’s total revenue

  • Recently launched a new Wholesale SMS Division to compliment its current wholesale long distance business
  • Opportunity to be a niche player in the wholesale SMS/MMS hubbing business

RECOGNITION

  • Ranked #1 fastest growing ICT company in Canada 2012
  • “Next 50 ICT Companies” in Canada Branham 2013

At Virtutone the signal is clear.

VoIP Origination

Virtutone Networks provides wholesale origination services from one of the largest footprints in North America. Virtutone also provides international origination services from 73 different countries, with new countries being added weekly. View Origination Services

SIP Trunking

By creating virtual phone lines and linking your various office locations, this innovative solution allows your business to replace costly ISDN PRIs and traditional lines with a simplified infrastructure that can reduce your costs. View SIP Trunking Services

VoIP Termination

Virtutone Networks provides wholesale termination services to telephone companies, VoIP carriers, call centres, satellite service providers, teleports, cable television networks, cellular carriers and managed IT service providers. View Termination Services

Our Network

Virtutone’s business class VoIP Network is designed to provide high performance and scalability at a low unit cost. Virtutone’s VoIP and FoIP network includes POP’s in Canada, United States, Australia and the United Kingdom. View Our Network

Virtutone Featured On BNN Market Call

Scroll to 1:58

Virtutone Announces Launch of Wholesale SMS Division *Sponsor*

Posted by AGORACOM-JC at 9:43 AM on Thursday, January 23rd, 2014

January 23, 2014 – Sherwood Park, Alberta – Virtutone Networks Inc. (“Virtutone” or the “Company”) (TSX Venture: VFX.V) is pleased to announce that the Company has launched a new Wholesale SMS Division to compliment its current wholesale long distance business.

The company sees that there is an opportunity to be a niche player in the wholesale SMS/MMS hubbing business. This business line will produce much higher gross margins for the Company, as there is very little competition in the space, and the market is ripe for a boutique company such as Virtutone. By using existing technology and infrastructure this enables the company to leverage its existing business relationships to quickly get this division off the ground. The initial focus is on G8 countries, which will allow us to access the greatest volume of traffic from our current customers.

The Company is pleased to announce that it has hired Harold Baxandall (Former Regional VP, Sales at TELUS) to head up its new division. Harold has over 33 years experience in the industry and brings that vast knowledge and network to assist in launching this new division.

“We are very excited to bring this division online, as it allows us to leverage our existing relationships, use our existing infrastructure, while increasing the companies overall margin.” said Jason Allen, Chief Executive Officer of Virtutone. “We welcome Harold to the Company, his vast experience at TELUS will allow us to grow this division very rapidly”

For further information please contact Jason Allen at 780-702-5777.

About Virtutone Networks Inc.

Virtutone Networks Inc. is a technology company based in Sherwood Park and is listed on the TSX Venture Exchange in Canada. The company is a leading supplier of managed telecommunication services, including: Voice over IP services, Fax over IP services, Hosted PBX services, DSL & T1 data circuits, wireless solutions for mobile work forces and SCADA networks, and network management and IT-related products. Additional information can be found on the company’s website at www.virtutone.com.

Virtutone Networks Goes “Beyond The Press Release” with $8.45M in December Revenue

Posted by AGORACOM-JC at 2:42 PM on Monday, January 13th, 2014

WHY VIRTUTONE NETWORKS?

  • Company has purchased five key underlying customers of its largest customer. Adding these key customers will ensure that no one customer represents more than 25% of the Company’s total revenue

FINANCIAL HIGHLIGHTS

  • $8.45 million in revenue for December 2013
  • $7.2 million in revenue for November 2013
  • $3.95 million in revenue for October 2013

Corporate Website / Hub On AGORACOM

Virtutone Announces Acquisition of Customer Base and New Revenues

Posted by AGORACOM-JC at 12:01 PM on Tuesday, December 10th, 2013

Virtutone Announces Acquisition of Customer Base and New Revenues

December 10th, 2013 – Sherwood Park, Alberta – Virtutone Networks Inc. (“Virtutone” or the “Company”) (TSX Venture: VFX.V) is pleased to announce that it has acquired certain customers of its largest customer in an effort to diversify its customer base.

The Company has purchased five key underlying customers of its largest customer. Adding these key customers will ensure that no one customer represents more than 25% of the Company’s total revenue.

In addition to the diversification, Virtutone will take over an additional $1.2 million in revenues per month at a gross margin of approximately 3% ($36,000 per month of additional margin) as a part of the acquisition.

Virtutone has agreed to issue one million shares for this transaction for a deemed value of $370,000, in two parts – 50% upon closing of the transaction and 50% 6 months after closing, provided that the gross margin from the addition revenue remains at $36,000 or more per month.

“This acquisition is a great achievement for Virtutone, as we are able to reduce our risks by diversifying the customer base and gain additional revenue and margin. We will not have to incur any additional overhead to manage this added revenue, which means the gross margin will flow directly to our bottom line,” said Jason Allen, Chief Executive Officer of Virtutone. “The transition of accounts will start immediately and should be complete by the end of December.”

This transaction is subject to approval by the TSX Venture Exchange.

For further information please contact Jason Allen at 780-702-5777.

About Virtutone Networks Inc.

Virtutone Networks Inc. is a technology company based in Sherwood Park, Alberta and is listed on the TSX Venture Exchange in Canada. The company is a leading supplier of wholesale telecommunication services. Additional information can be found on the company’s website at www.virtutone.ca.

This document may contain certain forward-looking information or statements (“Forward-looking statements”) as defined under applicable securities legislation that involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks include, without limitation, risks related to: the termination, non-renewal of or default under of any current or new wholesale contracts; changes in the global economy; a failure to negotiate new customer contracts; changes in legislation or the interpretation thereof, particularly in the telecommunications industry. Forward-looking statements are any statements other than statements of historical fact. The use of any “plan” “expect ” “project” “believe” “should” “anticipate” or other similar words or statements that certain events “may” or “will” occur are intended to identify forward-looking statements. In particular, forward-looking statements included in the press release include, without limitation, statements regarding: the impact of the new voice traffic contracts; timing and completion of the transition of new voice traffic; the sustainability of the new revenue stream; increased leverage with suppliers; additional deals currently being worked on and the impact thereof; and negotiations relating to potential new customers. The forward-looking-statements contained herein are based on certain assumptions including, without limitation, assumptions regarding: global economic conditions; changes in laws and regulations; the impact of Virtutone’s new contracts; the market for wholesale telephony services; the maintenance of new and current wholesale contracts; and the ability to add new wholesale clients. Although management believes the expectations reflected in the forward-looking statements contained herein are reasonable, no assurances can be given that any of the events anticipated in forward-looking statements will occur, or, if they do, what benefits Virtutone will derive therefrom. As such readers are cautioned not to place undue reliance on forward-looking statements, which are effective only as of the date of this document or as of the date otherwise specifically indicated herein. Virtutone assumes no obligation to update forward-looking statements, except as required by applicable law. The historical revenue numbers for the new wholesale contracts do not represent estimates of future revenues to be received by the Company. As these contracts do not contain any minimum traffic requirements, revenue generated on such contracts will vary from month to month, and such variations may be material. The Company cannot provide any assurances as to the revenues to be generated by such contracts once the transition is complete.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CLIENT FEATURE: (VFX: TSX-V) – Company Generated $3.95M in Revenues for October

Posted by AGORACOM-JC at 11:35 AM on Wednesday, November 27th, 2013
                                                               VFX: TSX-V

WHY VIRTUTONE NETWORKS?

  • Specializes in Voice over Internet Protocol (VoIP) and Fax over Internet Protocol (FoIP) application
  • Provides the complete VoIP and FoIP solution including: IP voice lines, IP fax lines, analog voice lines, analog fax lines, hosted PBX, on-site PBX, call center applications
  • Providing commercial grade VoIP for more than 7 years

FINANCIAL HIGHLIGHTS

  • $2.8 million in revenue last year
  • $3.95 million in revenue for October 2013
  • $3.8 million in revenue for September 2013
  • $4.0 million in revenue for August 2013
  • $3.7 million in revenue for July 2013

RECOGNITION

  • Ranked #1 fastest growing ICT company in Canada 2012
  • “Next 50 ICT Companies” in Canada Branham 2013

Virtutone is the business phone, fax and internet provider built to serve any size of business, big or small. We build and packaged a wide array of business communication services to provide you with exactly what you need to succeed in the fast paced business world of today. We provide unsurpassed customer support 24 hours a day to ensure you maximize your company’s potential. Our local and long distance calling, Internet packages, online account management and faxing platform gives businesses the tools they need at a price they can afford.

Voice Solutions (VOIP)

Virtutone offers a full suite of Voice over Internet Protocol (VoIP) products and services to meetthe needs of any business. Virtutone offers fully managed voice lines, Hosted PBX, and SIP trunks anywhere in North America, Australia and the United Kingdom. More…

Fax Solutions (FOIP)

Virtutone has developed the only true solution to keeping the fax machine in the office while taking advantage of the lower price of IP lines. A vital part of most businesses, almost every office in the world has a fax machine used every day. More…

Virtutone offers a wide variety of products and services to meet the specific needs of customers.
These include:

  • Managed Voice Lines
  • Managed Fax Lines
  • Hosted PBX
  • Wholesale Voip
  • Internet
  • Analog Phone Lines
  • Analog Line Management
  • Calling Cards
  • Hosted Exchange & BEZ
  • Hardware

Hub On AGORACOM / Corporate Website

Virtutone Networks Reports over $3.8M in Revenue for the Month of September

Posted by AGORACOM-JC at 1:48 PM on Tuesday, October 1st, 2013

Virtutone Networks Reports over $3.8M in Revenue for the Month of September

  • Announced that wholesale revenues of over $3.8 Million for the month of September
  • “This month we have focused our efforts toward increasing margins. Although revenues are down slightly from last month, our margins have increased significantly,” said Jason Allen, Chief Executive Officer of Virtutone. “We eliminated a number of low margin routes and our higher margin routes have continued to increase. We are looking forward to a strong month in October of both increased revenues and increased margins.”

Hub on AGORACOM / Corporate Website

——————-

Full Release

October 1st, 2013 – Sherwood Park, Alberta – Virtutone Networks Inc. (“Virtutone” or the “Company”) (TSX Venture: VFX.V) is pleased to announce that wholesale revenues of over $3.8 Million for the month of September.

“This month we have focused our efforts toward increasing margins. Although revenues are down slightly from last month, our margins have increased significantly,” said Jason Allen, Chief Executive Officer of Virtutone. “We eliminated a number of low margin routes and our higher margin routes have continued to increase. We are looking forward to a strong month in October of both increased revenues and increased margins.”

For further information please contact Jason Allen at 780-702-5777 ext. 101.

About Virtutone Networks Inc.

Virtutone Networks Inc. is a technology company based in Sherwood Park and is listed on the TSX Venture Exchange in Canada. The company is a leading supplier of managed telecommunication services, including: Voice over IP services, Fax over IP services, Hosted PBX services, DSL & T1 data circuits, wireless solutions for mobile work forces and SCADA networks, and network management and IT-related products. Additional information can be found on the company’s website at www.virtutone.com.

This document may contain certain forward-looking information or statements (“Forward-looking statements”) as defined under applicable securities legislation that involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks include, without limitation, risks related to: the termination, non-renewal of or default under of any current or new wholesale contracts; changes in the global economy; a failure to negotiate new customer contracts; changes in legislation or the interpretation thereof, particularly in the telecommunications industry. Forward-looking statements are any statements other than statements of historical fact. The use of any “plan” “expect ” “project” “believe” “should” “anticipate” or other similar words or statements that certain events “may” or “will” occur are intended to identify forward-looking statements. In particular, forward-looking statements included in the press release include, without limitation, statements regarding: the impact of the new voice traffic contracts; timing and completion of the transition of new voice traffic; the sustainability of the new revenue stream; increased leverage with suppliers; additional deals currently being worked on and the impact thereof; and negotiations relating to potential new customers. The forward-looking-statements contained herein are based on certain assumptions including, without limitation, assumptions regarding: global economic conditions; changes in laws and regulations; the impact of Virtutone’s new contracts; the market for wholesale telephony services; the maintenance of new and current wholesale contracts; and the ability to add new wholesale clients. Although management believes the expectations reflected in the forward-looking statements contained herein are reasonable, no assurances can be given that any of the events anticipated in forward-looking statements will occur, or, if they do, what benefits Virtutone will derive therefrom. As such readers are cautioned not to place undue reliance on forward-looking statements, which are effective only as of the date of this document or as of the date otherwise specifically indicated herein. Virtutone assumes no obligation to update forward-looking statements, except as required by applicable law. The historical revenue numbers for the new wholesale contracts do not represent estimates of future revenues to be received by the Company. As these contracts do not contain any minimum traffic requirements, revenue generated on such contracts will vary from month to month, and such variations may be material. The Company cannot provide any assurances as to the revenues to be generated by such contracts once the transition is complete.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Virtutone Announces Record Revenues of $4M For the Month of August

Posted by AGORACOM-JC at 1:58 PM on Tuesday, September 3rd, 2013

  • Announced that the Company’s wholesale division has generated over $4 million in revenue for the month of August
  • “August has been another record breaking month for Virtutone” said Jason Allen, Chief Executive Officer of Virtutone. “Our wholesale division continues to outperform all expectations.”

September 3rd, 2013 – Sherwood Park, Alberta – Virtutone Networks Inc. (“Virtutone” or the “Company”) (TSX Venture: VFX.V) is pleased to announce that the Company’s wholesale division has generated over $4 million in revenue for the month of August.

“August has been another record breaking month for Virtutone” said Jason Allen, Chief Executive Officer of Virtutone. “Our wholesale division continues to outperform all expectations.”

For further information please contact Jason Allen at 780-702-5777.

About Virtutone Networks Inc.

Virtutone Networks Inc. is a technology company based in Sherwood Park and is listed on the TSX Venture Exchange in Canada. The company is a leading supplier of managed telecommunication services, including: Voice over IP services, Fax over IP services, Hosted PBX services, DSL & T1 data circuits, wireless solutions for mobile work forces and SCADA networks, and network management and IT-related products. Additional information can be found on the company’s website at www.virtutone.com.

This document may contain certain forward-looking information or statements (“Forward-looking statements”) as defined under applicable securities legislation that involve known and unknown risks, uncertainties and other factors that may cause the Company’s actual results, performance, prospects or opportunities to differ materially from those expressed in, or implied by, these forward-looking statements. These risks include, without limitation, risks related to: the termination, non-renewal of or default under of any current or new wholesale contracts; changes in the global economy; a failure to negotiate new customer contracts; changes in legislation or the interpretation thereof, particularly in the telecommunications industry. Forward-looking statements are any statements other than statements of historical fact. The use of any “plan” “expect ” “project” “believe” “should” “anticipate” or other similar words or statements that certain events “may” or “will” occur are intended to identify forward-looking statements. In particular, forward-looking statements included in the press release include, without limitation, statements regarding: the impact of the new voice traffic contracts; timing and completion of the transition of new voice traffic; the sustainability of the new revenue stream; increased leverage with suppliers; additional deals currently being worked on and the impact thereof; and negotiations relating to potential new customers. The forward-looking-statements contained herein are based on certain assumptions including, without limitation, assumptions regarding: global economic conditions; changes in laws and regulations; the impact of Virtutone’s new contracts; the market for wholesale telephony services; the maintenance of new and current wholesale contracts; and the ability to add new wholesale clients. Although management believes the expectations reflected in the forward-looking statements contained herein are reasonable, no assurances can be given that any of the events anticipated in forward-looking statements will occur, or, if they do, what benefits Virtutone will derive therefrom. As such readers are cautioned not to place undue reliance on forward-looking statements, which are effective only as of the date of this document or as of the date otherwise specifically indicated herein. Virtutone assumes no obligation to update forward-looking statements, except as required by applicable law. The historical revenue numbers for the new wholesale contracts do not represent estimates of future revenues to be received by the Company. As these contracts do not contain any minimum traffic requirements, revenue generated on such contracts will vary from month to month, and such variations may be material. The Company cannot provide any assurances as to the revenues to be generated by such contracts once the transition is complete.

Neither the TSX Venture Exchange nor its Regulation Service Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Copyright (c) 2013 TheNewswire – All rights reserved.

Source: TheNewsWire (September 3, 2013 – 1:19 PM EDT)