HACKENSACK, N.J.—GoAmerica Inc. announced significant customer additions and improvements in its operational expenses but the news failed to impress investors, which sent the company’s stock down almost 12 percent after the news to about $1.40 per share.
GoAmerica reported a total customer base of about 141,000, up from the 108,000 customers the company counted in the previous quarter. The company’s total revenues for the fourth quarter were $10.6 million, up from the $6.1 million the company earned during the same quarter last year. The company’s net losses for the quarter totaled $20.2 million, up from the net loss of $19.4 million in the quarter a year ago.
“We are particularly pleased with the continued success and adoption of our value-added services, as well as the improvement to our operational cash burn,” said Aaron Dobrinsky, GoAmerica’s chairman and chief executive officer.
