Vringo narrows losses in Q2, expands Facetones to Nokia

Vringo is reporting second quarter net losses of $1.5 million, less than its loss of $4.6 million in the year-ago quarter. The mobile video and social applications firm credits the results to increased revenues, a gain on restructuring a venture loan, operational cost-cutting efforts and the absence of one-time non-operating expenses recorded in the second quarter of 2010 due to its IPO. Revenues increased to $227,000, up 416 percent from $44,000 a year ago.

In related Vringo news, the company will extend its Facetones product to Nokia's Ovi Store portal. Facetones integrates with Facebook to deliver visual social content each time a user initiates or receives a mobile call. Release