IPass Drops into Quarterly Loss on Lower Revenues
Published on: 14th Feb 2013
Note -- this news article is more than a year old.
By: Ian Mansfield
Wi Fi roaming services provider iPass has reported a fall in its fourth quarter revenues of US$29.7 million compared to US$34.4 million a year ago.
The company also dropped into a financial loss of US$1.5 million compared to a profit of US$0.3 million in Q4 2011.
The company also announced that it will cut its staffing numbers by 5% of the workforce and will take associated charges of US$0.9 million in the current quarter.
About 25% of Wi-Fi network sessions are now coming from smartphones and tablets, and the company is looking to increase that number to be closer to 60% by the end of this year.
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