Move to cloud saves jobs, makes history
Warwick Valley Telephone Company, the parent firm of leading cloud communications pioneers, saw revenue growth in the third quarter and was able to declare it’s 323rd consecutive quarterly cash dividend, having achieved one hundred and our consecutive year of paying cash dividends to shareholders. During the quarter, WVT purchased Alteva, a CCA member company.
“This has been an historic year-to-date for WVT Communications Group,” said Duane W. Albro, the company’s president and CEO. “In July we announced the acquisition of Alteva, LLC to accelerate our cloud communications strategy. Now, we believe that WVT Communications Group represents a unique and unprecedented value proposition as the first and only cloud communications company that pays a dividend.”
Albro commented that Alteva’s addition to WVT has been very positive, adding to WVT’s capacities and opportunities to grow in the exploding cloud sector.
What other’s are saying, please read : WVT Communications sees strong growth with Alteva in the fold
“From top to bottom, WVT Communications Group has been refocused and rebranded so that our customers and the industry will know that we offer an expanding portfolio of best in class cloud-based services built around a Microsoft and BroadSoft platform for unified communications and hosted applications to small, medium and large enterprise customers. Our back office has been optimized to address the increasing backlog of business customers signing up for services from Alteva, our up-market brand, and USA Datanet, our lower-market brand. We are pleased to report that our consolidated revenues were up 9% year-over-year during the third quarter, however, our higher margin unified communications (“UC”) revenues increased by nearly 200% year-over-year during the third quarter. At the end of the third quarter, we had more UC implementations in our backlog than at any time in our history. The cloud communications component of our business positions us as a growth company benefiting from the high demand for cost efficient, internet-based UC services and business application that provides us with a form of high margin recurring revenue.”
Albro said, “Our cloud communications businesses are enabling the WVT to expand its customer service operations while retraining and redeploying employees at our Warwick headquarters to support continued customer growth.”
With the addition of Alteva, WVT was able to more than offset lower revenues from the company’s traditional landline business, a move that apparently saved jobs. The company plans to extend its advanced business UC offerings to residential customers in the future, this offering a competitive alternative to consumers who are switching off legacy landline service.