Net2Phone will create two wholly-owned subsidiaries to provide investors a clearer picture of its operations. One of the new subsidiaries, Net2Phone Global Services (NGS), is to be comprised of the company’s international retail VoIP business and domestic calling card business, while the second, Net2Phone Cable Telephony (NCT), is focused on delivering an end-to-end managed telecommunications solution to cable operators utilizing VoIP.
Separately, Net2Phone reported quarterly revenue of $23.8 million, as compared to $23.1 million in the prior quarter. Gross margins for the third quarter were above 40% for the eighth consecutive quarter, at 40.5%. Loss from operations for the quarter was ($9.8) million.
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