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Technology Stocks : Synchronoss

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9:30 AM EST

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From: JakeStraw	10/28/2014 8:10:34 AM
	of 23

Synchronoss Technologies, Inc. Announces Third Quarter 2014 Financial Results finance.yahoo.com Non-GAAP total revenue of $125.5 million increases 39% year-over-year Cloud Services non-GAAP revenue of $57.9 million increases 115% year-over-year Non-GAAP operating income of $31.8 million or a 25% operating margin driving EPS of $0.46 “Synchronoss’ strong third quarter financial results exceeded our expectations from a revenue and profitability perspective and were highlighted by 115% year-over-year Cloud Services revenue growth,” said Stephen G. Waldis, Founder and Chief Executive Officer of Synchronoss. “Mobile operators are increasingly embracing cloud services as a core component of their communications offerings and a way to deliver significant value to their subscribers. We see exciting opportunities to enable our customers to provide a compelling cloud experience across an expanding array of devices.” Waldis added, “Activation Services also posted solid results that benefitted from positive transaction trends in both the wireless and cable markets. The proliferation of new connected device categories represents additional avenues for growth in Activation Services.”

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