Fusion Slips To Loss In Q2 - Quick Facts

(RTTNews) - Fusion Telecommunications International, Inc. (FSNN) Wednesday reported second-quarter net loss applicable to stockholders of $2.91 million or $0.42 per share, compared to a net income of $1.59 million or $0.30 per share in the prior year.

The company said the difference in result was largely attributable to a one-time non-cash gain of $2.9 million in 2013, increased depreciation and amortization expenses in the amount of $1.7 million associated with the acquisition of the Broadvox cloud services division, a $0.7 million non-cash loss on the change in fair value of the company's derivative liabilities and increased cash and non-cash interest expense.

Revenues for the quarter surged 62.6% to $23.14 million from $14.23 million last year. Business Services revenue climbed 109% from the prior year.

Total operating expenses advanced to $10.42 million from $5.31 million in the preceding year.