iBasis Reports 866 Million Minutes of Use in Q3

iBasis, a carrier of international IP telephony traffic, reported 866 million minutes of use in Q3, an increase of 29% from 670 million minutes carried in the third quarter of 2002, and 1% over the 854 million minutes in the second quarter of 2003. Average revenue per minute (ARPM) in Q3 increased to 5.1 cents per minute, compared to 4.6 cents per minute in the second quarter of 2003. The company added 29 new carrier customers in the quarter. The company said it achieved a significant increase in traffic to mobile phones, which are both higher-revenue and higher-margin minutes.


Financially, Q3 revenue was $44.0 million, an increase of 14.8% compared to third quarter 2002 revenue of $38.4 million. Net loss for the third quarter 2003 was $5.6 million or a net loss of $0.13 per sharehttp://www.ibasis.com