Q1 Results for iBasis

iBasis, a provider of Internet-based voice communications which has a 13 percent market share of all international VoIP
traffic, announced its Q1 results for the quarter ended 31 March 2004. 

Although it reported a net loss of $9.3 million for this quarter, it grossed revenues of $57 million compared to $41.8 million Q1 2003. It carried more than one billion minutes during the quarter and its average revenue per minute (ARPM) stood at 5.6 cents, up from 5.3 cents in Q1 2003.