Welcome!

Mobile IoT Authors: Pat Romanski, Yeshim Deniz, Liz McMillan, Elizabeth White, Kevin Benedict

News Feed Item

MTS Announces Second Quarter 2014 Financial Results

RA'ANANA, Israel, Aug. 7, 2014 /PRNewswire/ -- MTS – Mer Telemanagement Solutions Ltd. (Nasdaq Capital Market: MTSL), a global provider of Mobile Virtual Network Enabler (MVNE), Mobile Money and telecommunications expense management (TEM) solutions and services, today announced its financial results for the second quarter of 2014.

Revenues for the second quarter of 2014 were $1.7 million, compared with $3.1 million in revenues during the same quarter last year and revenues of $1.8 million in the first quarter of 2014. The Company's operating loss was $291,000 in the second quarter of 2014 compared to an operating profit of $377,000 for the second quarter of 2013 and compared to operating loss of $313,000 in the first quarter of 2014. Net loss for the second quarter was $302,000 or ($0.06) per diluted share, compared with net income of $309,000 or $0.07 per diluted share in the second quarter of 2013 and a net loss of $315,000 or ($0.07) per diluted share in the first quarter of 2014. The principal factor that adversely affected the quarter's results was the termination of revenues from the agreement with Simple Mobile that ended on December 31, 2013.

Revenues for the six month period ended June 30, 2014 were $3.5 million, compared with $6.4 million for the comparable period in 2013. Net loss for the six months ended June 30, 2014 was $617,000 or ($0.13) per diluted share, compared with net income of $653,000 or $0.14 per diluted share in the comparable period in 2013.

As of June 30, 2014, MTS had cash and marketable securities of $6.0 million, as compared to $6.5 million as of December 31, 2013.

"We are continuing to work diligently to increase revenues and in parallel we are closely monitoring our operating expenses. We are also evaluating several M&A transactions as part of our strategy to enhance our business and increase shareholder value," said Mr. Chaim Mer, Chairman of the Board.  

About MTS

Mer Telemanagement Solutions Ltd. (MTS) is a worldwide provider of innovative products and services for Telecom Expense Management (TEM), Enterprise Mobility Management (EMM), Mobile Virtual Network Operators and Enablers (MVNO/MVNE) and Mobile Money services and solutions used by mobile service providers.

The MTS TEM Suite solution enables enterprises to gain visibility and control of strategic fixed and mobile telecom assets, services and IT security policies that drive key business processes and crucial competitive advantage. The MTS cloud, consulting and managed services solutions — including integrated management of invoices, assets, wireless, optimization, usage, mobile device management, procurement, help desk and bill payment, along with dashboards and reporting tools — provide professionals at every level of the organization with rapid access to concise, actionable data.

MTS's solutions for telecommunication service providers are used worldwide by wireless and wireline service providers for interconnect billing, partner revenue management and for charging and invoicing their customers. MTS provides MVNE services to allow the quick launch of new MVNO initiatives in a pay as you grow and revenue share models. In addition, MTS has pre-configured solutions to support emerging carriers of focused solutions (e.g. IPTV, VoIP, WiMAX, MVNO) to rapidly install a full-featured and scalable solution.

Headquartered in Israel, MTS markets its solutions through wholly owned subsidiaries in the United States and Hong Kong and through distribution channels. MTS shares are traded on the NASDAQ Capital Market (symbol MTSL). For more information please visit the MTS web site: www.mtsint.com.

Certain matters discussed in this news release are forward-looking statements that involve a number of risks and uncertainties including, but not limited to, risks in product development plans and schedules, rapid technological change, changes and delays in product approval and introduction, customer acceptance of new products, the impact of competitive products and pricing, market acceptance, the lengthy sales cycle, proprietary rights of the Company and its competitors, risk of operations in Israel, government regulations, dependence on third parties to manufacture products, general economic conditions and other risk factors detailed in the Company's filings with the United States Securities and Exchange Commission.

Contacts:
Company:
Alon Mualem
CFO
Tel: +972-9-7777-540
Email: [email protected] 

                                 

CONSOLIDATED BALANCE SHEETS

U.S. dollars in thousands




June 30,


December 31,



2014


2013

ASSETS










CURRENT ASSETS:





Cash and cash equivalents


$      5,828


$      6,369

Restricted cash


284


63

Restricted marketable securities


149


153

Trade receivables, net


543


943

Other accounts receivable and prepaid expenses


100


147






Total current assets


6,904


7,675






LONG-TERM ASSETS:





Severance pay fund


749


725











PROPERTY AND EQUIPMENT, NET


140


183






OTHER ASSETS:





Goodwill


3,479


3,479

Other intangible assets, net


478


567






Total other assets


3,957


4,046






Total assets


$        11,750


$            12,629

 

CONSOLIDATED BALANCE SHEETS

U.S. dollars in thousands (except share and per share data)




June 30,


December 31,



2014


2013

LIABILITIES AND SHAREHOLDERS' EQUITY










CURRENT LIABILITIES:





    Trade payables


$              245


$             254

    Accrued expenses and other liabilities


1,846


2,200

    Deferred revenues


1,790


1,766

    Liabilities of discontinued operations


362


362






Total current liabilities


4,243


4,582






LONG-TERM LIABILITIES





     Accrued severance pay


875


857

     Deferred tax liability


29


29






Total long-term liabilities


904


886






COMMITMENTS AND CONTINGENT LIABILITIES










SHAREHOLDERS' EQUITY:





     Share capital


13


13

     Additional paid-in capital


20,375


20,317

     Treasury shares


(29)


(29)

     Accumulated other comprehensive loss


(5)


(6)

     Accumulated deficit


(13,751)


(13,134)






Total shareholders' equity


6,603


7,161






Total liabilities and shareholders' equity


$          11,750


$          12,629

 

CONSOLIDATED BALANCE SHEETS

U.S. dollars in thousands (except share and per share data)




Six months ended


Three months ended

June 30,

June 30,



2014


2013


2014


2013

Revenues:









Services


$     2,848


$     5,326


$     1,388


$2,624

Product sales


679


1,071


341


476










Total revenues


3,527


6,397


1,729


3,100










Cost of revenues:









Services


1,205


426


586


184

Product sales


312


1,830


137


921










Total cost of revenues


1,517


2,256


723


1,105










Gross profit


2,010


4,141


1,006


1,995










Operating expenses:









Research and development, net of grants from the OCS


650


668


295


324

Selling and marketing


943


1,128


465


540

General and administrative


1,021


1,548


537


754










Total operating expenses


2,614


3,344


1,297


1,618










Operating profit (loss)


(604)


797


(291)


377

Financial income (expenses), net


(5)


37


(9)


18

Other income (loss), net


(1)


-


-


-










Income (loss) before taxes on income


(610)


834


(300)


395

Tax on income, net


7


181


2


86










Net income (loss)


$(617)


$653


($302)


$309










Net Income (loss) per share:


















Basic and diluted net income (loss)  per Ordinary share


$(0.13)


$0.14


$(0.06)


$0.07










Weighted average number of Ordinary shares used in computing basic net income (loss)  per share


4,669,108


4,652,979


4,672,635


4,665,557



4,669,108


4,738,092


4,672,635


4,691,529


Weighted average number of Ordinary shares used in computing diluted net income (loss)  per share










 

SOURCE MTS - Mer Telemanagement Solutions Ltd.

More Stories By PR Newswire

Copyright © 2007 PR Newswire. All rights reserved. Republication or redistribution of PRNewswire content is expressly prohibited without the prior written consent of PRNewswire. PRNewswire shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

IoT & Smart Cities Stories
To Really Work for Enterprises, MultiCloud Adoption Requires Far Better and Inclusive Cloud Monitoring and Cost Management … But How? Overwhelmingly, even as enterprises have adopted cloud computing and are expanding to multi-cloud computing, IT leaders remain concerned about how to monitor, manage and control costs across hybrid and multi-cloud deployments. It’s clear that traditional IT monitoring and management approaches, designed after all for on-premises data centers, are falling short in ...
The deluge of IoT sensor data collected from connected devices and the powerful AI required to make that data actionable are giving rise to a hybrid ecosystem in which cloud, on-prem and edge processes become interweaved. Attendees will learn how emerging composable infrastructure solutions deliver the adaptive architecture needed to manage this new data reality. Machine learning algorithms can better anticipate data storms and automate resources to support surges, including fully scalable GPU-c...
A valuable conference experience generates new contacts, sales leads, potential strategic partners and potential investors; helps gather competitive intelligence and even provides inspiration for new products and services. Conference Guru works with conference organizers to pass great deals to great conferences, helping you discover new conferences and increase your return on investment.
Poor data quality and analytics drive down business value. In fact, Gartner estimated that the average financial impact of poor data quality on organizations is $9.7 million per year. But bad data is much more than a cost center. By eroding trust in information, analytics and the business decisions based on these, it is a serious impediment to digital transformation.
SYS-CON Events announced today that Silicon India has been named “Media Sponsor” of SYS-CON's 21st International Cloud Expo, which will take place on Oct 31 – Nov 2, 2017, at the Santa Clara Convention Center in Santa Clara, CA. Published in Silicon Valley, Silicon India magazine is the premiere platform for CIOs to discuss their innovative enterprise solutions and allows IT vendors to learn about new solutions that can help grow their business.
We are seeing a major migration of enterprises applications to the cloud. As cloud and business use of real time applications accelerate, legacy networks are no longer able to architecturally support cloud adoption and deliver the performance and security required by highly distributed enterprises. These outdated solutions have become more costly and complicated to implement, install, manage, and maintain.SD-WAN offers unlimited capabilities for accessing the benefits of the cloud and Internet. ...
Founded in 2000, Chetu Inc. is a global provider of customized software development solutions and IT staff augmentation services for software technology providers. By providing clients with unparalleled niche technology expertise and industry experience, Chetu has become the premiere long-term, back-end software development partner for start-ups, SMBs, and Fortune 500 companies. Chetu is headquartered in Plantation, Florida, with thirteen offices throughout the U.S. and abroad.
SYS-CON Events announced today that CrowdReviews.com has been named “Media Sponsor” of SYS-CON's 22nd International Cloud Expo, which will take place on June 5–7, 2018, at the Javits Center in New York City, NY. CrowdReviews.com is a transparent online platform for determining which products and services are the best based on the opinion of the crowd. The crowd consists of Internet users that have experienced products and services first-hand and have an interest in letting other potential buye...
Business professionals no longer wonder if they'll migrate to the cloud; it's now a matter of when. The cloud environment has proved to be a major force in transitioning to an agile business model that enables quick decisions and fast implementation that solidify customer relationships. And when the cloud is combined with the power of cognitive computing, it drives innovation and transformation that achieves astounding competitive advantage.
DXWorldEXPO LLC announced today that "IoT Now" was named media sponsor of CloudEXPO | DXWorldEXPO 2018 New York, which will take place on November 11-13, 2018 in New York City, NY. IoT Now explores the evolving opportunities and challenges facing CSPs, and it passes on some lessons learned from those who have taken the first steps in next-gen IoT services.