SPOTLIGHT: 8X8 Inc moves into profit

IP PBX supplier, 8X8 Inc has recorded a profitable last quarter for 2007, after successive loss-making quarters. Revenue for the nine months to Dec. 31 2007 was $45 million, up 17 percent compared to the same period in 2006. Packet8 Virtual Office is the company's core product and has been deployed in 10,000 businesses. Revenue from Virtual Office sales grew sequentially 8 percent quarter over quarter.

8X8 Inc has been selling off its non-core patents and sold two of its legacy, non-core patents to a third party for $1.2 million. The company will retain a worldwide, non-exclusive, royalty-free license to use the technology covered by these patents for all of its current and future products. Release