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Microcap & Penny Stocks : Hipcricket, Inc

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From: JakeStraw	7/11/2014 11:35:12 AM
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Hipcricket Reports Fiscal First Quarter 2015 Results finance.yahoo.com Revenue up 25% to record $7.3 million Gross profit increased 13% to $3.7 million Bookings increased 38% year-over-year to $8.8 million Backlog increased 7% to $20.4 million from the same year-ago period "This quarter's record revenue was driven by both new customers and the expansion of existing customer activity," said Todd Wilson, Hipcricket's chairman and CEO. "The results also reflect the strategic decisions we made late last year to strengthen our sales team and further enhance our product offerings, like the new analytics features of our AD LIFE platform. "My first initiative as CEO is to ensure we quickly get to EBITDA positive operations. In doing this, we are focusing our sales efforts on higher value customers, leveraging our technology staff to maintain and enhance our product offering, as well as consolidate certain non-core personnel positions. "We are now aggressively implementing this plan, and expect to begin seeing the full effect on a quarterly basis in our fiscal third quarter. Given our outlook for a strong second half, we continue to believe that fiscal 2015 has the potential to be a year of double-digit revenue growth. We see this being driven by continued industry expansion, new customer acquisitions, and increased activity within our existing customer base of global companies and brands. Our operating plan calls for sustainable revenue growth beyond 2015, as we realize operational efficiencies and achieve positive operating EBITDA in the second half of the fiscal year."

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