Alteva UC revenues up 17% for 2013

Alteva (NYSE: ALTV) said that for the full year 2013, UC revenues increased by 17 percent, which includes the results of the Syracuse operations that were sold in September 2013, to USD15.8m from USD13.6m for full year 2012.

Excluding the Syracuse operations, UC revenues increased 27 percent for full year 2013 compared to full year 2012.

At the end of 2013, there were over 39,000 users on Alteva´s hosted platform, which represents an increase of 33 percent of the installed base compared to the end of 2012; excluding the seats associated with the divested Syracuse operations, users on Alteva´s hosted platform increased 51 percent.

The company restated its consolidated financial statements for the year ended December 31, 2012, and the condensed consolidated financial statements for the first three interim periods of the year ended December 31, 2013, related to the determination of the valuation allowance needed to reflect the deferred tax assets at the amount that is more than likely than not realizable under US generally accepted accounting principles (GAAP) for income taxes.

Alteva is a premier provider of hosted Unified-Communications-as-a-Service (UCaaS) that significantly enhances business productivity and efficiency. Its website is at www.alteva.com and on Twitter @AltevaInc.

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