JERSEY CITY, NJ — (Marketwired) — 05/15/13 — . (OTCBB: SITO), a technology based mobile media solutions provider, today reported financial results for the three and six months ended March 31, 2013.
Financial Highlights:
Revenue: For the second quarter of fiscal 2013, revenue increased to $1.8 million from $1.6 million for the second quarter of fiscal 2012, representing a year-over-year increase of 16%. For the six months ended March 31, 2013, revenues increased to $3.8 million from $3.1 million for the same period of the prior year, representing a year-over-year increase of 19%. Because a majority of the Company-s revenues are currently derived from mobile messaging for retailers, Single Touch-s business peaks during the holidays and then reflects a return to normalized growth in its third fiscal quarter beginning in April.
Gross Margin: For the second quarter of fiscal 2013, gross margin was 57%. In the six months ended March 31, 2013 gross margins improved to 56% from 55% in the same period of 2012.
Adjusted EBITDA: For the second quarter of fiscal 2013, adjusted EBITDA, a non-GAAP financial measure, was $(443,000) compared to adjusted EBITDA of $(305,000) for the second quarter of fiscal 2012. For the six months ended March 31, 2013, adjusted EBITDA was $(804,000) as compared to $(709,000) for the same period of the prior year.
Net Income (Loss): For the second quarter of fiscal 2013, net loss, on a GAAP basis, was $(1.1) million or $(0.01) per basic and dilute share, compared to a net loss of $(665,000) or $(0.01) per basic and diluted share for the second quarter of fiscal 2012. For the six months ended March 31, 2013, net loss was $(3.3) million or $(0.02) per basic and diluted share, compared to $(1.3) million or $(0.01) per basic and diluted share for the same period in 2012.
Messaging Volume: In the second quarter of fiscal 2013, Single Touch sent 66 million marketing message to mobile phone users. This is up 15% from 56 million messages sent in the second quarter of fiscal 2012. Messaging volume is a key business metric for the Company.
“With continued double digit year-over-year revenue growth and gross margin improvement for the first two quarters of fiscal 2013, we continue to progress towards our goals for revenue growth and profitability in our operating business. We are focused on ramping recurring revenue streams through both existing and new clients,” stated Single Touch President and CEO James Orsini.
“For marketers and advertisers there is a realization that consumers don-t use desktop and mobile in the same way when they are searching to shop. The numbers are very compelling. Ninety percent of people conducting a mobile search act within 1 day, and 70% act within 1 hour according to data published on . We believe Single Touch is well positioned to capitalize on the seismic shift towards mobile media consumption and corresponding action. We provide the ROI, the patent protected technologies, and services that deliver results for our customers,” Orsini added.
Single Touch Chairman and Chief Technology Officer Anthony Macaluso commented, “During the second quarter of fiscal 2013, we continued our efforts to unlock value in our IP portfolio. In the quarter our Single Touch Interactive subsidiary was also granted a patent from the United States Patent and Trademark Office for a key invention addressing mobile data transfer functions that happen nearly every time a new mobile device is purchased in the U.S. With this latest patent, Single Touch-s IP position in the mobile ecosystem is now comprised of 49 patents issued and pending applications.”
Conference Call Dial-In Information:
Date: Thursday, May 16, 2013
Time: 8:30 A.M. Eastern Time (ET)
Dial in Number for U.S. & Canadian Callers: 877-407-8629
Dial in Number for International Callers (Outside of the U.S. & Canada): 201-493-6715
To join the live conference call, please dial into the above referenced telephone numbers five to ten minutes prior to the scheduled conference call time. A live webcast and archive of the call will also be available on Single Touch-s website at: .
If you are unable to participate in the call at this time, a replay will be available for 7 days starting on May 16 at approximately 11:00 A.M. ET. To access the replay, please dial 877-660-6853 in the U.S. and 201-612-7415 for international callers. The conference ID# is 414392.
Single Touch Systems, Inc. is a technology based mobile solutions provider serving businesses, advertisers and brands. Through patented technologies and a modular, adaptable platform, Single Touch-s multi-channel messaging gateway enables marketers to reach consumers on all types of connected devices, with information that engages interest, drives transactions and strengthens relationships and loyalty. For more information about Single Touch Systems, Inc. visit:
This news release may contain forward-looking statements that involve risks and uncertainties and reflect Single Touch-s judgment as of the date of this release. These statements may include those regarding strategy, growth and future operations. Actual events or results may differ from Single Touch-s expectations. The risks and uncertainties include reliance on brand owners and wireless carriers, the possible need for additional capital, as well as other risks identified in Single Touch-s filings with the SEC. Single Touch disclaims any intent or obligation to update these forward-looking statements beyond the date of this press release, except as may be required by law.
Reconciliation of Non-GAAP Measures
Reconciliation of Non-GAAP Measures
Investor and Media Contact:
Robert Haag
Hampton Growth IR
877-368-3566