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Technology Stocks : Synchronoss

SNCR 8.470

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9:30 AM EST

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From: JakeStraw	7/29/2014 8:15:20 AM
	of 23

Synchronoss Technologies, Inc. Announces Second Quarter 2014 Financial Results finance.yahoo.com Non-GAAP total revenue of $103.6 million increases 22% year-over-year Non-GAAP operating income of $25.9 million or a 25% operating margin driving non-GAAP EPS of $0.41, an increase of 32% year-over-year Cloud Services revenue of $46.7 million increases 74% year-over-year “Synchronoss is pleased to report strong second quarter results that met or exceeded our expectations and were highlighted by 74% year-over-year Cloud Services revenue growth,” said Stephen G. Waldis, Founder and Chief Executive Officer of Synchronoss. “During the second quarter, we saw the number of new personal cloud subscribers accelerate as many of our mobile operator customers saw very positive business results, trends we expect to continue throughout the year. It’s exciting to see our platforms becoming a vital component of our customers’ core business strategies.” Waldis added, “We are also seeing positive trends in our Activation Services business that should drive double digit growth in the second half of the year. At the same time, our customers’ early interest in our Synchronoss Integrated Life™ and emerging enterprise offerings provides additional revenue growth opportunities while continuing to diversify our business. We are confident in our ability to capitalize on the growing number of market opportunities.”

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