Counterpath (CPAH) Misses Q1 EPS by 16c, Revenues Miss

Counterpath (NASDAQ: CPAH) reported Q1 EPS of ($0.14), $0.16 worse than the analyst estimate of $0.02. Revenue for the quarter came in at $2.9 million versus the consensus estimate of $3.8 million.

''We are pleased with the progress we continue to make on growing our recurring revenue through new accounts as well as through our current customer base'' said Donovan Jones, President and CEO. During this quarter, we signed an agreement with a leading contact center solution provider that has over 100,000 Bria licenses to deploy the CounterPath hosted Stretto Platform" for provisioning and remote support of their Bria. Additionally, the full service, award-winning telecommunications service provider Vonex Ltd., announced a partnership agreement with CounterPath and will jointly market a combined product offering for the Australian market. In a recent research report from telecoms & IT analyst firm, MZA Limited, CounterPath is listed as the fourth largest vendor in desktop and mobile UC client markets behind industry leaders Cisco, Microsoft, Avaya with double-digit market share in 2017i. Building on the momentum, we look forward to an upcoming refresh of our highly scalable Software-as-a Service (SaaS) solution that enables enterprises to communicate and collaborate better in a global, secure and productive environment. This subscription-based offering is targeted towards new users of the SMB market as well as our extensive X-lite and Bria user base. CounterPath continues to deliver high-value services leveraging the award-winning Bria user experience including secure corporate instant messaging, screen sharing and message synchronization, all hosted by CounterPath from the cloud,'' continued Jones.

For earnings history and earnings-related data on Counterpath (CPAH) click here.

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