Augme Technologies, Inc. Reports 79% Increase in Second Quarter Revenues
finance.yahoo.com
Company Positioned to Address Strong Customer Demand With AD LIFE(TM) 4.0 and HIP 7.0 Mobile Marketing Platforms and Services
"During our second quarter, Augme completed the acquisition of the assets of Jagtag, Inc. and Hipcricket, Inc., representing strategic accomplishments that we believe will position the Company to reach critical mass and accelerate the achievement of its long-term objectives," stated Paul Arena, Chief Executive Officer of Augme Technologies, Inc. "We believe that we now have the capabilities and assets to deliver the most comprehensive and strategically valuable portfolio of mobile marketing services to global, national and regional name-brand leaders. Having completed over 130,000 mobile marketing campaigns to date, and with a customer retention rate well in excess of 90%, we believe Augme can provide its customers the most effective tools to reach targeted audiences through their smartphones and other mobile devices."
"Revenue increased 79% in the most recent quarter, when compared with the second quarter of fiscal 2011, and revenue for the first half of fiscal 2012 rose 148% relative to the corresponding period of the previous fiscal year," continued Arena. "In projecting full-year revenue of $16.0 million, we are taking a very measured and conservative approach in forecasting the future contributions from these recently completed acquisitions. We plan to update our revenue guidance as we complete the integration process."
For the six months ended August 31, 2011, the Company's revenue increased 148% to $2,492,909, compared to $1,005,040 in the first half of the previous fiscal year.
Gross profits increased 230% to $1,717,630 (68.9% of revenue) in the six months ended August 31, 2011, compared to $520,002 (51.7% of revenue) in the six months ended August 31, 2010. |
