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The Vyke suite of IP-enabled services combines technology and expertise to provide innovative, low cost and high quality consumer services that build on the foundation provided by Vyke's vertically integrated VoIP communications network.
Vyke Communication's third quarter update lifts shares
Vyke Communications (LSE: VYKE), the voice over internet protocol ('VoIP') provider, climbed higher after reporting its third quarter trading update.
The trading update focused on Vyke's ongoing restructuring which is part of a drive to reach cash flow positive and earnings before interest, depreciation, tax and amortisation positive on a month by month basis by the end of 2008.
Vyke reported that it now has 1.8 million customers, an increase of 326% compared to the third quarter of 2007, and since inception in 2004, had an average customer acquisition rate of 14,000 per day. Vyke also reported a 'strong start' with 21 Fortune 500 companies participating in its pilot mobile VoIP projects.
Overll, the company said it was accelerating the conversion of its 'traditional' services, including calling cards, to its VoIP services.
Tommy Jensen, Executive Chairman, commented: "The third quarter has been a very exciting and demanding period. Vyke has begun the next phase of its planned growth cycle and we are seeing the results in terms of increased levels of usage for our pure VoIP services. Whilst the speed of this transition eased in the third quarter, customer acquisition levels returned at a considerably higher pace following the period end. The Board is confident that it will be able to grow its customer base in the quarters to come at the same speed as in the previous eight quarters."
















