HOLMDEL, N.J., March 15, 2010 /PRNewswire via COMTEX News Network/ -- Vonage Holdings Corp. (NYSE: VG) today announced that last Friday, the New York Stock Exchange (the "NYSE") provided early approval for Vonage's return to full compliance with NYSE listing standards for market capitalization. This approval came several months earlier than required and is a result of Vonage's sustained, positive financial performance consistent with the business plan the Company presented to the NYSE in March of 2009. As of March 12, 2010, the Company's market capitalization was $286 million.
"We are very pleased with the NYSE's decision to return the company to compliance in an accelerated fashion," said Marc Lefar, Chief Executive Officer of Vonage Holdings Corp. "We believe this reflects the company's strong financial performance through a challenging economic environment. Looking ahead, we expect to continue to launch new products and mobile applications while aggressively pursuing growth opportunities in the international long distance market."
Vonage is a leading provider of high-quality voice and messaging services over broadband networks. Our award winning technology serves approximately 2.4 million subscribers. We provide feature-rich, affordable communication solutions that offer flexibility, portability and ease-of-use.
Our Vonage World plan offers free unlimited calling to landline phones in all cities and locations in more than 60 countries with popular features like call waiting, call forwarding and voicemail - for one low, flat monthly rate.
Vonage's service is sold on the web and through regional and national retailers including Wal-Mart Stores Inc. and is available to customers in the U.S., Canada and the United Kingdom. For more information about Vonage's products and services, please visit http://www.vonage.com.
Vonage Holdings Corp. is headquartered in Holmdel, New Jersey. Vonage(R) is a registered trademark of Vonage Marketing Inc., a subsidiary of Vonage Holdings Corp.
SOURCE Vonage Holdings Corp.
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