Synchronica Announces Estimated Revenue For 2011
ROYAL TUNBRIDGE WELLS, Jan. 13, 2012 /CNW/ - Synchronica plc ("Synchronica" or "the Company") (AIM: SYNC) (TSX Venture: SYN), the international provider of next-generation mobile messaging services, announces the following trading update for the year ended 31 December 2011.
Synchronica expects to report full year 2011 revenues of approximately US$23 million, which is marginally ahead of market expectations, and represents an increase of some 111 percent when compared to the same period in 2010 (FY 2010: US$10.9m).
Furthermore, according to unaudited data from its internal management reports, Synchronica also announces that subsequent to the significant cost-reduction initiatives recently implemented, the Company was profitable at the EBITDA level for the months of November and December 2011.
It is expected that full audited results will be released to the market during March 2012.
About Synchronica
Synchronica plc is a leading developer of standards-based, next-generation mobile messaging solutions for mobile operators and device manufacturers. The Company's flagship product - Synchronica Mobile Gateway - provides pre-RCS push email, synchronisation, instant messaging (IM), and social networking services to any mobile phone currently in use. Synchronica's patented transcoding technology uses advanced streaming to download email attachments and dramatically reduce the consumption of wholesale network bandwidth by as much as 90 percent.
Synchronica's white-labelled products are licensed by more than 90 mobile operators and eight device manufacturers from emerging and developed markets, delivering mass market messaging services across the entire customer base, providing competitive advantage, diversifying revenues, and reducing churn.
Synchronica is headquartered in the United Kingdom and has a regional presence in Canada, as well as the USA, Hong Kong, Spain, and Dubai. Synchronica also operates dedicated development centres in Germany and the Philippines. A public company, Synchronica is traded on the AIM list of the London Stock Exchange (SYNC) and the Venture Exchange of the Toronto Stock Exchange (SYN). For further information, please visit www.synchronica.com
Cautionary Statements
Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.
The foregoing information may contain forward-looking statements relating to the future performance of Synchronica. Forward-looking statements, specifically those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially from Synchronica's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the filings made by Synchronica with the TSX Venture Exchange and securities regulators. Synchronica does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
| For investor relations enquiries, please contact: | ||||||||
| Walbrook PR Ltd +44 (0) 20 7933 8780 | Investor Enquiries, UK | Paul Cornelius paul.cornelius@walbrookir.com | ||||||
| TMX Equicom +1 416 815 0700 Ext 290 | Investor Enquires, North America | Craig MacPhail cmacphail@equicomgroup.com | ||||||
| For corporate information, please contact: | ||||||||
| Synchronica plc +44 (0) 1892 552 720 | Chief Executive Officer | Angus Dent | ||||||
| Northland Capital Partners +44 (0) 207 796 8800 | Nominated Advisor Corporate Broker | Shane Gallwey; Rod Venables Katie Shelton | ||||||
| Walbrook PR Ltd +44 (0) 20 7933 8780 | Media and Analyst Enquiries, UK | Paul McManus paul.mcmanus@walbrookpr.com | ||||||
| TMX Equicom +1 416 815 0700 Ext 290 | Media and Analyst Enquiries, North America | Craig MacPhail cmacphail@equicomgroup.com | ||||||
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