With plans to enter
the U.S. market through the recently announced acquisition of 100% of the
assets of Telnicity, LLC, a U.S. MVNE/MVNO enabler company headquartered in
Oklahoma City, Oklahoma and the award of a contract to provide out-of-band and
transaction verification solutions in November 2012 with a leading U.S.
financial institution, Elephant Talk Communications, Corp. ETAK
(www.elephanttalk.com), an international provider of software and services
developed to manage network, billing and systems infrastructure for the
telecommunication industry and a market leader in providing solutions to
counter electronic fraud for the financial services industry, today announced
it has signed a contract to implement the Company's proprietary Software
Defined Network ("SDN") platform for an established mobile operator in a major
Latin America market. Elephant Talk is also releasing preliminary results for
fourth quarter 2012 and the year 2012.
The mobile outsourcing platform will have a capacity for 10 million SIMs. The
Company expects the initial migration of approximately one million existing
Latin American mobile subscribers to Elephant Talk's proprietary SDN platform
to begin in mid-2013. The migration is expected to take several months.
Subscribers on Elephant Talk's SDN platform will generate recurring revenue on
a per subscriber per month basis.
Software Defined Networks are the most efficient way to handle the increasing
demands from mobile operators, from small mobile operators to networks
carrying tens of millions of SIMs. Elephant Talk, a leader in the development
of SDNs, expects an increasing number of mobile networks to convert to these
platforms over the next few years.
In addition to announcing the Latin American contract, Elephant Talk released
preliminary 4Q12 and 2012 results.
Preliminary 4Q12 results:
o Mobile and Security revenue was approximately $3.4 million, a
year-over-year increase of about 76.7%
o Mobile and Security revenue accounted for an estimated 51% of total
revenue in the fourth quarter, up from 44% and 23% of total revenue in
3Q12 and 4Q11, respectively
o Gross Margin (revenue minus cost of services), a non-GAAP measure,
increased approximately 69% to about $2.5 million for the fourth quarter
representing about 37% of total revenue. Gross Margin for 4Q11 was $1.5
million, accounting for 18% of total revenue
Preliminary 2012 results:
o Mobile and Security revenue for 2012 almost doubled to approximately $11.5
million from $5.8 million in 2011
o Gross Margin (revenue minus cost of services), a non-GAAP measure,
increased approximately 132% to about $8.2 million and represented around
28% of total revenue. Gross Margin for 2011 was $3.5 million accounting
for 11% of total revenue
Market News and Data brought to you by Benzinga APIs© 2024 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Comments
Loading...
Benzinga simplifies the market for smarter investing
Trade confidently with insights and alerts from analyst ratings, free reports and breaking news that affects the stocks you care about.
Join Now: Free!
Already a member?Sign in