MTS Announces Second Quarter 2010 Financial Results
PR Newswire — August 12, 2010
RA’ANANA, Israel, August 12, 2010 /PRNewswire-FirstCall/ — MTS – Mer Telemanagement Solutions Ltd. (Nasdaq Capital Market: MTSL), a global provider of business support systems (BSS) for comprehensive telecommunication management, telecommunications expense management (TEM) solutions and customer care & billing (CC&B) solutions, today announced its financial results for the second quarter of 2010.
Revenues for the second quarter of 2010 were $3.1 million, compared with $2.9 million in revenues during the same quarter last year and revenues of $2.9 million in the first quarter of 2010. The Company’s operating profit was $42,000 in the second quarter of 2010 compared to an operating loss of $394,000 for the second quarter of 2009. Net income for the second quarter was $47,000 or $0.01 per diluted share, compared with a net loss of $414,000 or $(0.09) per diluted share in the second quarter of 2009. Revenues for the six month period ended June 30, 2010 were $5.7 million, compared with $4.8 million for the comparable period in 2009. Net income for the six months ended June 30, 2009 was $45,000 or $0.01 per diluted share, compared with a net loss of $678,000 or ($0.15) per diluted share in the comparable period in 2009.
All numbers relating to our ordinary shares and earnings per share have been adjusted to reflect the reverse stock split that became effective on March 2, 2010.
“Our second quarter results were in line with our expectations for improved operating results. They reflect the focus we placed on improving our implementation processes while closely monitoring our overall costs,” said Eytan Bar, CEO of MTS.
“The Company continues to see market opportunities as we leverage our solutions and our strategy to grow our Telecom Expense Management business through partners. In addition, the Company’s MVNE activity has grown. Our billing software is being provided to Mobile Virtual Network Operator’s (MVNO) as a licensed software offering internationally, and as a managed service in the U.S.” concluded Mr. Bar.
Mer Telemanagement Solutions Ltd. (MTS) is a worldwide provider of innovative solutions for comprehensive telecommunications expense management (TEM) used by enterprises, and for business support systems (BSS) used by information and telecommunication service providers.
Since 1984, MTS Telecommunications’ expense management solutions have been used by thousands of enterprises and organizations to ensure that their telecommunication services are acquired, provisioned, and invoiced correctly. In addition, the MTS’s Application Suite has provided customers with a unified view of telecommunication usage, proactive budget control, personal call management, employee cost awareness and more.
AnchorPoint TEM solutions enable enterprises to gain visibility and control of strategic assets that drive key business processes and crucial competitive advantage. The AnchorPoint’s software, consulting and managed services solutions