QualityStocks would like to highlight MER Telemanagement Solutions Ltd. (NASDAQ: MTSL). The company is a global provider of MVNE services and telecommunications expense management (TEM) services and solutions. They focus on an enterprise's need to manage their telecom expenses via a complete telecom life cycle of procurement, asset management, help desk, budget control, invoice processing, contract and vendor management, quality of service, performance management, mobile management, and dispute management. MTS also provides a complete suite of carrier grade B/OSS solutions enabling TELCOS, emerging MVNOs, IPTV providers and utility providers, to provision and service their customers and partners.
In the company’s news yesterday,
Mer Telemanagement Solutions announced its financial results for 3Q 2012.
“Our third quarter results represent continued improvements in our financial results and indicators as a result of our efforts to develop our Mobile Virtual Network Enabler (MVNE) activity and the Telecom Expense Management opportunities through partners, new customer acquisitions and expanding our existing customer base” said Eytan Bar, CEO of MTS.
“As we previously announced, we extended our largest existing MVNO services contract, with minimum revenues of $3.6 million during 2013. In addition, following last quarter’s announcement that we signed a new managed service agreement, we recently were able to successfully launch our MVNE service with this new MVNO in the US. The Company sees other opportunities in this market and we are working diligently to turn them into new contracts. We are looking forward to improving both our top and bottom line performance,” concluded Mr. Bar.
Financial highlights include:
• Revenues for the third quarter of 2012 increased to $3.4 million, compared with $3.0 million in revenues during the same quarter last year and revenues of $3.3 million in the second quarter of 2012. For the nine months period ended September 30, 2012, revenues were $9.6 million, compared with $8.8 million versus prior year.
• Operating profit was $692,000 in the third quarter of 2012 compared to a $244,000 for the third quarter of 2011 and $517,000 in the second quarter of 2012. It was $1.5 million for the nine months period ended September 30, 2012, compared to an operating profit of $439,000 for the same period last year.
• Net Income, on a non-GAAP basis, excluding the non-recurring tax charge related to a court ruling, was $691,000 or $0.15 per diluted share for the third quarter, versus net income of $226,000, or $0.05 per diluted share, in the third quarter of 2011 and $460,000, or $0.10 per diluted share, in the second quarter of 2012. For the nine months ended September 30, 2012, it was $1.5 million, or $0.32 per diluted share, compared with net income of $588,000, or $0.13 per diluted share, in the comparable period of 2011.
• Net income for the third quarter, after a $446,000 non-recurring tax charge, was $245,000, or $0.05 per diluted share, compared with net income of $226,000, or $0.05 per diluted share, in the third quarter of 2011 and $460,000, or $0.10 per diluted share, in the second quarter of 2012. Net income for the nine months ended September 30, 2012 was $1.0 million, or $0.22 per diluted share, compared with net income of $588,000, or $0.13 per diluted share, in the comparable period in 2011. It was also negatively affected by a non-recurring tax charge of approximately $446,000, as a result of a court ruling relating to the Company’s appeal of a tax ruling of the Israeli tax authorities that was issued with respect to the 1997 to 1999 period. The company has not as yet received an assessment from the tax authorities.
• Cash and marketable securities were $4.6 million as compared to $3.4 million as at December 31, 2011. During the nine month period ended September 30, 2012 the company had positive operating cash flow of $1.3 million, as compared to positive operating cash flow of $800,000 during the nine month period ended September 30, 2011.
Mer Telemanagement Solutions, headquartered in Israel, is a worldwide provider of innovative products and services for comprehensive telecom expense management and enterprise mobility management solutions used by enterprises, telecommunication service providers, and mobile virtual network operators. For more information, visit www.mtsint.com.
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Forward-Looking Statement:
This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.
