Global provider of award-winning, over-the-top Unified Communications solutions for enterprises and carriers, CounterPath, Corp. (NASDAQ:CPAH), announces new OEM agreement with Digivox.
VANCOUVER, BRITISH COLUMBIA–(Marketwired – Dec 1, 2016) – CounterPath Corporation (CPAH)(PATH.TO), a global provider of award-winning, over-the-top (OTT) Unified Communications (UC) solutions for enterprises and carriers, today announced a new OEM agreement with Digivox, a leading Brazilian solution provider for enterprises. The agreement has already enabled Digivox to convert significant project opportunities in the Brazilian government sector by leveraging co-branded mobile and desktop softphones powered by CounterPath.
Current customers of these services include a state-controlled financial institution, a multi-billion (USD) bank with over 100,000 employees, and a House of the Brazilian national congress.
“As one of Brazil’s foremost providers of Unified Communications solutions to the enterprise and government sectors, Digivox’s choice of partnering with CounterPath is further validation of our market leadership in Latin America,” said Donovan Jones, CEO at CounterPath. “We look forward to supporting the future innovation and expansion of Digivox’s OTT services to more customers and users.”
The new Digivox Unified Communications services, featuring the Unity Softphone line of clients delivering VoIP, video, chat and presence on all major operating systems, go to market using CounterPath technology. Current customers of these services include a major state-controlled financial institution and a portion of the Brazilian national congress. Services are fully integrated with the CounterPath Stretto platform for easy activation and remote provisioning. The Stretto Platform is agnostic to existing network elements within the Digivox infrastructure, providing further versatility as deployments can be made on top of current SBCs, IMS components, VoIP switches, PBXs and cloud communication services.
“The enterprise-scale UC market opportunity in Brazil calls for flexibility, usability and scalability and this led us to select CounterPath as the best partner for our softphone innovation,” said Ary Vilhena, CEO of Digivox. “We are confident this will deliver strategic advantage to Digivox and its customers.”
This news release contains “forward-looking statements”. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, outlook, expectations or intentions regarding the future including (1) we look forward to supporting the future innovation and expansion of Digivox’s OTT services to more customers and users and (2) we are confident this will deliver strategic advantage to Digivox and its customers. It is important to note that actual outcomes and the Company’s actual results could differ materially from those in such forward-looking statements. Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (1) the variability in CounterPath’s sales from reporting period to reporting period due to extended sales cycles as a result of selling CounterPath’s products through channel partners or the length of time of deployment of CounterPath’s products by its customers, (2) the Company’s ability to manage its operating expenses, which may adversely affect its financial condition, (3) the Company’s ability to remain competitive as other better financed competitors develop and release competitive products, (4) a decline in the Company’s stock price or insufficient investor interest in the Company’s securities which may impact the Company’s ability to raise additional financing as required or be delisted from a stock exchange on which its common stock trades, (5) the impact of intellectual property litigation that could materially and adversely affect CounterPath’s business, (6) the success by the Company of the sales of its current and new products, (7) the impact of technology changes on the Company’s products and industry, (8) the failure to develop new and innovative products using the Company’s technologies, and (9) the potential dilution to shareholders or overhang on the Company’s share price of its outstanding stock options. Readers should also refer to the risk disclosures outlined in the Company’s quarterly reports on Form 10-Q, or in the annual reports on Form 10-K, and the Company’s other disclosure documents filed from time-to-time with the Securities and Exchange Commission at www.sec.gov and the Company’s interim and annual filings and other disclosure documents filed from time-to-time on SEDAR at www.sedar.com.
CounterPath, Corp. (NASDAQ:CPAH) shares have moved +0.00% on the news thus far today and have traded in the range of $1.93 – 2.08 during the current session. In order to take a look at where the stock might be headed longer term, investors often look to research firms that cover the stock. Sell-side research firms currently have a consensus one-year price target of $3.34 on the stock. This is according to brokerage analysts polled by Thomson Reuters First Call. The sell-side analysts are projecting earnings per share of $-0.18 for the next fiscal quarter. For the current year, analysts are predicting earnings of $-0.44 per share according to First Call.
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In looking at where the stock is trading on a technical level, the stock is trading -2.86% away from its 50-day moving average of $2.03. Based on the most recent available data, the equity is -48.83% off of its 52-week high of $3.85 and +8.84% away from its 52-week low which is $1.81. In looking further ahead, potential investors should note that the company’s price to next year’s EPS estimates is 5.47.
Today, the stock opened at $2.06 and the last bid at the time of writing stood at $1.97. During the session thus far, the equity dipped down to $1.93 and touched $2.08 as the high point. CounterPath, Corp. (NASDAQ:CPAH) has a market cap of $8.97M and has seen an average daily volume of 2,420 over the past three months.
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