8x8 is seeing green despite the economy's effect on its traditional markets. After making moves to target larger companies and the federal government while increasing sales staff, 8x8's second quarter earnings results show revenue growth for the first time in a year as well as the highest level of operating income the company has ever had since going public. The VoIP provider posted $1.3 million in net profit for the second quarter of fiscal 2010.
The company shifted away from resellers earlier in the year to focus more on direct sales while doubling their sales force. The move seems to have paid off as 8x8 has seen a sequential spike in net income--a 2900% increase from a year ago according to Telephony.
The profit spike seems to be due in part to the economy forcing companies to look at hosted VoIP for the cost savings, and also Nortel's recent bankruptcy issues which might be bringing some potential customers over to 8x8's side.
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