IPass Drops into Quarterly Loss on Lower Revenues

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Wi Fi roaming services provider iPass has reported a fall in its fourth quarter revenues of USD29.7 million compared to USD34.4 million a year ago.

The company also dropped into a financial loss of USD1.5 million compared to a profit of USD0.3 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 USD0.9 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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