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Synchronica

  • BY: Andrew Hore |
  • POSTED: 15/03/2011 |

Synchronica had a strong fourth quarter to 2010 in revenue terms even though Canada-based iseemedia, which was acquired in October, made a modest contribution to the period. 

Push email and instant messaging services provider Synchronica reported a 57% increase in fourth quarter revenue to $5.2m, while full year revenue was 84% higher at $10.9m. The final quarter included restructuring costs andmuch higher amortisation charges and they contributed to rise in the full year loss from $5.18m to $7.29m. The pre-amortisation loss fell from $4.17m to $3.63m. Costs are increasing but at a slower pace than revenues.

There are 83 mobile operators that use Synchronica’s services plus eight handset makers that install them in their phones. The latter accounts for around one-third of revenues.

There was $1.18m in the bank at the end of 2010.

In February, Synchronica acquired the customer base and technology of Neustar NGM for $251,000. The deal brought with it Rich Communications Suite (RCS), an important new technology. There are also 11 contracts with mainly Europe-based mobile operators. Synchronica now supplies all four major Russian mobile firms.

Synchronica is in the process of integrating everything into the Mobile Gateway 6 product.

Don’t expect the first quarter of 2011 to carry on where the fourth quarter of 2010 left off. The fourth quarter always tends to be the strongest period. However, the trend is positive. 

At 23.75p a share, Synchronica is valued at £23.3m.

Download the March edition of AIM Journal at http://www.hubinvest.com/AIMPDFMarch2011_18.pdf

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