Juma Technology Corp., a leading IP Convergence firm, announced its financial results for the full year ended December 31, 2008. Revenues for the year increased $8,783,689, or 70%, to $21,370,692, compared with the previous yearâ€™s revenues of $12,587,003. Gross margin for 2008 increased $2,335,325, or 154%, to $3,851,396, compared to the previous yearâ€™s $1,516,071. Although the company recorded a net loss of $9,031,143 for 2008, it was a significant improvement over 2007â€™s net loss of $15,861,359.
“Juma’s impressive year end earnings represent a strong validation for our company, its vision and our ability to execute flawlessly on our business plan,” stated Anthony M. Servidio, Chairman and Chief Executive Officer. “Our enormous growth and progress during these tough economic times is a true accomplishment. Every day, we continue to add new customers, sign on additional reseller partners, and increase our market presence and sales reach.â€
“Our 2008 financial performance is extremely encouraging,” added Anthony Fernandez, Chief Financial Officer. “We continue to improve operational efficiencies, increase our gross margin and reduce our overall net loss.”