RA'ANANA, Israel, Aug. 15, 2013 /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 2013.
Revenues for the second quarter of 2013 were $3.1 million, compared with $3.3 million in revenues during the same quarter
last year and revenues of $3.3
million in the first quarter of 2013. The Company's
operating profit was $377,000 in the
second quarter of 2013 compared to an operating profit of
$517,000 for the second quarter of
2012 and $420,000 in the first
quarter of 2013. Net income for the second quarter was $309,000 or $0.07
per diluted share, compared with net income of $460,000 or $0.10
per diluted share in the second quarter of 2012 and $344,000 or $0.07
per diluted share in the first quarter of 2013. Revenues for the
six month period ended June 30, 2013
were $6.4 million, compared with
$6.3 million for the comparable
period in 2012. Net income for the six months ended June 30, 2013 was $653,000 or $0.14
per diluted share, compared with net income of $770,000 or $0.17
per diluted share in the comparable period in 2012.
As of June 30, 2013, we had cash
and marketable securities of $5.6
million as compared to $4.3
million as at December 31,
2012. During the six month period ended June 30, 2013 we had positive operating cash flow
of $1.2 million, as compared to
positive operating cash flow of $1.0
million during the six month period ended June 30, 2012.
"We recently completed the second deployment of our Mobile Money
solution for a customer in Africa
and as previously announced we successfully signed up a new MVNO
customer in the U.S. for our MVNE managed services model. The
contract with the MVNO customer provides for minimum revenues of
approximately $1.1 million over a
three and half year period. We are seeing other opportunities in
the TEM, MVNE and Mobile Money markets and are working diligently
to convert these opportunities into new contracts," concluded Mr.
Bar.
About MTS
Mer Telemanagement Solutions Ltd. (MTS) is a worldwide provider
of Telecom Expense Management (TEM) and 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 (MDM), 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 service to allow
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, Hong Kong and 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:
Alon.Mualem@mtsint.com
CONSOLIDATED
BALANCE SHEETS
|
U.S. dollars in
thousands
|
|
|
|
June
30,
|
|
December
31,
|
|
|
2013
|
|
2012
|
ASSETS
|
|
|
|
|
|
|
|
|
|
CURRENT
ASSETS:
|
|
|
|
|
Cash and cash
equivalents
|
|
$
5,491
|
|
$
4,190
|
Restricted
cash
|
|
399
|
|
38
|
Restricted marketable
securities
|
|
146
|
|
139
|
Trade receivables,
net
|
|
580
|
|
1,066
|
Deferred income
tax
|
|
203
|
|
371
|
Other accounts
receivable and prepaid expenses
|
|
167
|
|
175
|
|
|
|
|
|
Total current
assets
|
|
6,986
|
|
5,979
|
|
|
|
|
|
LONG-TERM
ASSETS:
|
|
|
|
|
Severance pay
fund
|
|
762
|
|
658
|
Other
investments
|
|
4
|
|
4
|
|
|
|
|
|
Total long-term
assets
|
|
766
|
|
662
|
|
|
|
|
|
PROPERTY AND
EQUIPMENT, NET
|
|
216
|
|
245
|
|
|
|
|
|
OTHER
ASSETS:
|
|
|
|
|
Goodwill
|
|
3,479
|
|
3,479
|
Other intangible
assets, net
|
|
662
|
|
759
|
|
|
|
|
|
Total other
assets
|
|
4,141
|
|
4,238
|
|
|
|
|
|
Total
assets
|
|
$
12,109
|
|
$
11,124
|
|
|
|
|
|
|
CONSOLIDATED
BALANCE SHEETS
|
U.S. dollars in
thousands (except share and per share data)
|
|
|
|
June
30,
|
|
|
December
31,
|
|
|
2013
|
|
2012
|
LIABILITIES AND
SHAREHOLDERS' EQUITY
|
|
|
|
|
|
|
|
|
|
CURRENT
LIABILITIES:
|
|
|
|
|
Trade
payables
|
|
$
280
|
|
$
279
|
Accrued expenses and
other liabilities
|
|
2,301
|
|
2,393
|
Deferred
revenues
|
|
1,847
|
|
1,648
|
Liabilities of
discontinued operations
|
|
435
|
|
435
|
|
|
|
|
|
Total current
liabilities
|
|
4,863
|
|
|
4,755
|
|
|
|
|
|
LONG-TERM LIABILITIES
-
|
|
|
|
|
Accrued severance
pay
|
|
896
|
|
800
|
|
|
|
|
|
COMMITMENTS AND
CONTINGENT LIABILITIES
|
|
|
|
|
|
|
|
|
|
SHAREHOLDERS'
EQUITY:
|
|
|
|
|
Share
capital
|
|
13
|
|
13
|
Additional paid-in
capital
|
|
20,240
|
|
20,120
|
Treasury
shares
|
|
(29)
|
|
(29)
|
Accumulated other
comprehensive income
|
|
13
|
|
5
|
Accumulated
deficit
|
|
(13,887)
|
|
(14,540)
|
|
|
|
|
|
Total shareholders'
equity
|
|
6,350
|
|
5,569
|
|
|
|
|
|
Total liabilities and
shareholders' equity
|
|
$
12,109
|
|
$
11,124
|
|
|
|
|
|
|
|
|
CONSOLIDATED
STATEMENTS OF OPERATIONS
|
U.S. dollars in
thousands (except share and per share data)
|
|
|
|
Six months
ended
June
30,
|
|
Three months
ended
June
30,
|
|
|
2013
|
|
2012
|
|
2013
|
|
2012
|
Revenues:
|
|
|
|
|
|
|
|
|
Product
sales
|
|
$
1,071
|
|
$
1,753
|
|
$
476
|
|
$
921
|
Services
|
|
5,326
|
|
4,511
|
|
2,624
|
|
2,359
|
|
|
|
|
|
|
|
|
|
Total
revenues
|
|
6,397
|
|
6,264
|
|
3,100
|
|
3,280
|
|
|
|
|
|
|
|
|
|
Cost of
revenues:
|
|
|
|
|
|
|
|
|
Product
sales
|
|
426
|
|
618
|
|
184
|
|
351
|
Services
|
|
1,830
|
|
1,613
|
|
921
|
|
795
|
|
|
|
|
|
|
|
|
|
Total cost of
revenues
|
|
2,256
|
|
2,231
|
|
1,105
|
|
1,146
|
|
|
|
|
|
|
|
|
|
Gross
profit
|
|
4,141
|
|
4,033
|
|
1,995
|
|
2,134
|
|
|
|
|
|
|
|
|
|
Operating
expenses:
|
|
|
|
|
|
|
|
|
Research and
development, net of grants from the OCS
|
|
668
|
|
704
|
|
324
|
|
330
|
Selling and
marketing
|
|
1,128
|
|
1,043
|
|
540
|
|
519
|
General and
administrative
|
|
1,548
|
|
1,489
|
|
754
|
|
768
|
|
|
|
|
|
|
|
|
|
Total operating
expenses
|
|
3,344
|
|
3,236
|
|
1,618
|
|
1,617
|
|
|
|
|
|
|
|
|
|
Operating
profit
|
|
797
|
|
797
|
|
377
|
|
517
|
Financial income
(expenses), net
|
|
37
|
|
(21)
|
|
18
|
|
(53)
|
|
|
|
|
|
|
|
|
|
Income before taxes on
income
|
|
834
|
|
776
|
|
395
|
|
464
|
Tax on income,
net
|
|
181
|
|
6
|
|
86
|
|
4
|
|
|
|
|
|
|
|
|
|
Net income
|
|
$
653
|
|
$
770
|
|
$
309
|
|
$
460
|
|
|
|
|
|
|
|
|
|
Net Income per
share:
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basic and diluted net
income per Ordinary share
|
|
$
0.14
|
|
$
0.17
|
|
$
0.07
|
|
$
0.10
|
|
|
|
|
|
|
|
|
|
Weighted average
number of Ordinary shares used in
computing basic net income per
share
|
|
4,652,979
|
|
4,459,057
|
|
4,665,557
|
|
4,459,057
|
Weighted average
number of Ordinary shares used in
computing and diluted net income per
share
|
|
4,738,092
|
|
4,459,057
|
|
4,691,529
|
|
4,459,057
|
|
|
|
|
|
|
|
|
|
SOURCE MTS - Mer Telemanagement Solutions Ltd.