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Earnings Roundup

Vonage narrows loss on cost cuts

May 09, 2008|From Times Wire Services

Vonage Holdings Corp., the unprofitable Internet phone company, reported a narrower first-quarter loss after cutting jobs and reducing marketing budgets.

The net loss shrank to $8.96 million, or 6 cents a share, from $72.3 million, or 47 cents, a year earlier, the Holmdel, N.J.-based company said. Sales rose 15% to $224.6 million.

Vonage shares fell 5 cents, or 2.7%, to $1.83.

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