Vonage Buyers Told to Pay for Shares
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Investors who have not paid for shares bought in VonageÂs initial public offering are being told to write a check or risk legal action.
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Vonage HoldingsÂ on Tuesday announced it has partnered with two companies to offer wireless telephone handsets for its VOIP (voice over Internet Protocol) service.
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The issue that is contentious is a rule that is meant to assure that if an investor offers to buy a share for $25, no stock will be sold for less until his order is filled.
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(InfoWorld) - Vonage Holdings lost less money in the fourth quarter of 2006 than a year earlier, but it didn't attract as many new subscribers to its VOIP (voice over Internet Protocol) service despite heavy marketing. The company, a pioneer in selling phone service that uses packet data networks instead of traditional circuits, now faces competition from cable operators and the established telecommunications carriers. The big players recognize the potential cost benefits of the technology as well as its flexibility, including the ability to give subscribers a browser-based portal for using voice mail and changing service preferences. But those big players are also bundling VOIP with other services, such as broadband Internet access and TV. Vonage ended the fourth quarter with a net gain of 166,267 subscriber lines, bringing its customer base to more than 2.2 million. But that was less than the 204,591 subscribers it gained the previous quarter as well as its gain in the fourth quarter of 2005, when it added 207,252 subscribers. Revenue soared to $181 million, up 91 percent from a year earlier, and the company's net loss narrowed. Vonage lost $65 million, or $0.42 per share, compared with a loss of $72 million in the fourth quarter of 2005. The company's margins also improved, according to a statement Thursday. But Vonage has built its business on being an early mover and drawing a big base of customers that can later drive profits. The company's marketing costs still amounted to 53 percent of revenue in the fourth quarter, although this was down from 71 percent a year earlier. Vonage still expects to reach its goal of making an operating profit, adjusted for certain factors, as early as the first quarter of 2008, the statement said. The company's stock (VG) dropped sharply after its initial public offering on the New York Stock Exchange last May at $17. Among other things, investors worried about the company's losses and growing competition. On Thursday afternoon local time, the share price was down $0.42 at $5.42. Though the future is cloudy for dedicated VOIP companies, VOIP itself is looming larger in major service providers' plans, according to IDC analyst Will Stofega. For example, mobile operators are looking at VOIP overÂ combined cell and Wi-Fi phonesÂ as a way to improve in-home coverage without the expense of beefing up the cellular network itself. However, it's too soon to count out Vonage. The company has started to focus on small and medium-size businesses, where it faces less competition from cable operators, Stofega said. Consumers may also see providers such as Vonage get into mobility themselves. Vonage could buy minutes from a cellular carrier and offer a service that lets subscribers hop on to Vonage via Wi-Fi at home, Stofega said. It has no traditional cellular minutes business to protect and could move early, jump-starting the trend, he added. The company could also team up with public hotspot providers or a municipal Wi-Fi operator such as EarthLink to provide mobile service over those networks, he added. But both of these are hard ways to make a profit, Stofega said.
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Investors have spoken: Vonage still gets no respect.
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Vonage and AT&T finalize a deal in their patent infringement case.
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ALEXANDRIA, Virginia  - A jury on Thursday ordered Internet phone provider Vonage Holdings Corp. to pay $58 million for infringing on three patents owned by Verizon Communications Inc..
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NEW YORK -   Verizon and Vonage on Wednesday will present opening statements in a patent-infringement case that could have a big impact on consumers and the nascent Internet telephone industry. Most immediately at risk is the future of Vonage.
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Vonage Holdings Corp., the beleaguered provider of Internet-based telephone service, said Thursday it has settled a patent lawsuit brought by Verizon Communications Inc. for a maximum of $120 million.
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These companies are buying back some of their shares. Should you join them?
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A U.S. jury found that Vonage Holdings Corp had infringed patents owned by Sprint Nextel Corp and ordered the Internet phone company to pay $69.5 million in damages, triggering a 34 percent fall in its shares.
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Customers want the service, changes are in the works, and counting Vonage out could be a mistake.
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These companies want to buy back their shares, which just might boost their earnings per share.
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The legal face-off takes place just as Vonage is struggling to continue signing up new customers.
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gardel writes &quot;Voxilla reports that a VoIP price war was declared today. An announcement that AT&amp;T would drop its prices for its CallVantage Service from $34.
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We will survive Vonage today moved to reassure its two million customers that their internet phone service will not be disrupted and investors that their cash will be safe if it loses a patent lawsuit to Verizon.â¦
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Internet-based calling company Vonage Holdings Corp.  said on Thursday that it settled a patent dispute with Verizon Communications Inc .