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Augme Technologies (OTCBB: AUGT) $2.74. Today announced revenue guidance for its first fiscal quarter ended May 31, 2011. The Company also reaffirmed its guidance for the full fiscal year ending February 29, 2012.
Based on a preliminary review of results for the first fiscal quarter ended May 31, 2011, Augme estimates recognizable revenue of approximately $1.2 million. This is an increase of approximately 325% from the $286,323 recorded in the first fiscal quarter ended May 31, 2010, and a sequential increase of approximately 26% from the fourth quarter's reported revenue of $963,005. Deferred revenue, which is recognized over the period of contract performance of typically one year, increased to approximately $2.0 million at the end of the first quarter, a sequential increase of approximately 72% from $1,190,150 on February 28, 2011. Deferred revenue was $93,614 at May 31, 2010.
Booked revenue, which is defined as recognizable revenue plus deferred revenue, is expected to be approximately $3.2 million in the first fiscal quarter, a sequential increase of approximately 55% when compared with booked revenue of $2,153,155 in the fourth fiscal quarter. Billings, which is defined as total new contracts for the period, is expected to be approximately $2.1 million in the first fiscal quarter, an increase of approximately 21% when compared with billings of $1,756,995 in the fourth fiscal quarter. The billings annualized revenue run-rate for the first fiscal quarter ended May 31, 2011 of $8.4 million was derived by taking the approximate $2.1 million of total new contracts for the period over four quarters.
What They Do: Augme Technologies provides strategic services and mobile technology to leading consumer and healthcare brands.
ITEX Corporation (OTCBB: ITEX) $3.90. Today filed its Form 10-Q with the Securities and Exchange Commission and announced results for its fiscal 2011 third quarter ended April 30, 2011. Third Quarter 2011 Highlights: Revenue of $3.960 million compared to $4.158 million in the same period last year; Income from operations of $388,000 compared to $421,000 in the same period last year; Net income of $239,000 compared to $269,000 in the same period last year; Cash at end of period was $4.765 million compared to $5.169 million on July 31, 2010; Repurchased 92,125 shares of common stock; Paid a $0.04 per share quarterly cash dividend.
What They Do: ITEX, The Membership Trading Community(SM), is a leading marketplace for cashless business transactions.
Location Based Technologies (OTCBB: LBAS) $0.17. Today announced it has received and is prepared to fulfill a purchase order for LoadRackTracker with our freight monitoring devices. The order is valued at approximately $1.2M.
"After working through several difficult years in the economy, we are now ready to begin delivery of our unique trucking and freight monitoring system to LoadRackTracker(TM)," said Dave Morse, CEO of Location Based Technologies. "This is the first of several channel partner relationships to be announced which will speed the use and adoption of our cutting edge PocketFinder Network(TM) with hardware solutions that meet specific market segment's needs."
LoadRackTracker device delivery will begin in July. This joint solution uses advanced technology to assist shippers, carriers and truck brokers to optimize their resources, to coordinate available trucks and loads, and allow for load visibility across the supply chain. The customized interface for the LoadRackTracker solution can be accessed via the Internet, an iPad, or smartphone to show its exact location and load condition in real time. In addition, the devices include several advanced features, such as allowing users and stakeholders to be notified when a device leaves or enters a zone, near real-time load temperature monitoring, route changes and the ability to manage time delays. By combining the PocketFinder(R) solution with the LoadRackTracker.com(TM) software, load integrity, customer service and load visibility will enhance the procurement and delivery of all temperature controlled goods.
