* Tandberg revenues rise in Q3
Tandberg Television said Q3 revenues rose 9 percent to $80.7 million, versus $74.4 million in the year-ago period.
Operating profit dipped to $9.2 million, compared to $15.1 million a year earlier. The company ended the quarter with a cash balance of $124.4 million, and net cash income from operations of $21.7 million, up from $3.5 million in the year-ago period.
* VoIP Inc. concludes restructuring phase
VoIP Inc. said it completed the first phase of its restructuring by streamlining operations, and reducing its overall level of indebtedness and raising additional capital.
The company converted approximately $7 million in debentures into common stock, and separately raised $2.3 million via a private placement. The company also terminated its marketing and distribution agreement with Phone House Inc.
Additional cost-cutting measures will follow.
* Verizon launches FiOS TV service in Mineola, N.Y.
Verizon is now offering its FiOS TV service to subscribers in Mineola, N.Y., another in a cluster of towns on Long Island, just outside New York City, that Verizon has been rolling fiber out to.
On the slate for FiOS TV service later this year are East Rockaway on Long Island and the Town of Greenburgh in Rockland County, and, upon New York State Public Service Commission approval, the Long Island communities of Smithtown, Huntington, Valley Stream and Farmingdale, as well as the Westchester County village of Irvington.