NEW YORK, NY — (Marketwired) — 07/10/13 — Augme® Technologies, Inc. (OTCQB: AUGT) (“Augme”) and its wholly owned subsidiary, Hipcricket®, Inc. (“Hipcricket”) (collectively “the Company”), a technology leader in mobile marketing and advertising, announces its operating results for the first quarter ended May 31, 2013.
First Quarter Highlights
First quarter revenue increased 15.5% to $5.9 million from $5.1 million in the same period last year.
As of May 31, 2013, backlog increased 9.4% to $19.0 million from $17.4 million compared to May 31, 2012.
First quarter bookings (the dollar value of contracts signed during the first quarter) decreased 1.7% to $6.4 million from $6.5 million in the same period last year.
Average annual revenue per customer increased 49% to approximately $101,000 from $68,000 on a trailing twelve month basis.
Secured a $5.0 million credit facility with Silicon Valley Bank.
Ivan Braiker, CEO of Augme commented, “We achieved year over year double digit growth in the first quarter and we believe many of the changes we made during the quarter including solidifying management, continuing to focus on operational efficiency, and securing significant new customer relationships will position us to accelerate growth for the balance of the year. These efforts have continued into the second quarter. We have expanded our sales team to keep up with the increased interest in our mobile engagement solutions. We also appointed Doug Stovall as Chief Operating Officer. Doug is an accomplished, vigorous business leader, who I believe is the perfect fit as we propel the business to the next phase. Over the balance of the year, we expect to increase our depth and breadth of business with our existing customers, which include 23 of the Fortune 100 companies, as well as add new clients.”
For the full fiscal year 2014 Augme reiterates previous guidance that it expects revenue to be in the range of $34.0 – $35.3 million.
First Quarter Financial Results
Revenue for first quarter of fiscal 2014 increased to $5.9 million, from $5.1 million for first quarter of fiscal 2013, an increase of 15.5%.
Mobile advertising revenues were 36% of total revenues in first quarter fiscal 2014 compared with 27% in first quarter fiscal 2013.
Operating expenses for the first quarter of fiscal 2014 was $9.3 million compared to $10.7 million in first quarter fiscal 2013. Non-GAAP operating expenses, defined as total operating expenses adjusted for non-cash charges for first quarter fiscal 2014 decreased to $7.0 million from $7.8 million for first quarter fiscal 2013.
Net loss for first quarter of fiscal 2014 was $6.0 million, or $(0.05) cents per share, compared to a net loss of $4.9 million, or $(0.05) cents per share, for the first quarter of fiscal 2013. Net loss for the first quarter of 2013 included a deferred income tax benefit associated with our acquisition of GEOS Communications IP Holdings, Inc. which reduced net loss by $2.6 million. Excluding non-cash charges, the non-GAAP loss for first quarter fiscal 2014 was $3.7 million compared with $4.7 million for first quarter fiscal 2013.
Cash and cash equivalents as of May 31, 2013 was $1.4 million.
Operating results and non-cash charges are as follows:
Non-GAAP information and reconciliation to comparable GAAP financial measures (unaudited):
This press release includes financial measures defined as non-GAAP financial measures by the SEC. The presentation of this financial information is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with generally accepted accounting principles accepted in the United States of America (“GAAP”). Generally, a non-GAAP financial measure is a numerical measure that either excludes or includes amounts that are not normally excluded or included in the most directly comparable measure calculated and presented in accordance with GAAP. We supplement our GAAP disclosures with Non-GAAP Operating Expenses and Non-GAAP Earnings (Losses). These amounts exclude non-cash items including share-based compensation expense, depreciation and amortization (including impairment charges), and acquisition related deferred income tax benefits. The following table reconciles Non-GAAP Operating Expenses and Non-GAAP Earnings (Losses) to the comparable GAAP measures:
Management will host a conference call today at 4:30 p.m. ET.
To join the conference call, please dial 877-941-1427 (domestic call-in) or 480-629-9664 (international call-in).
A live webcast and replay will be available in the investor events section of Augme-s website (). All participants should call or access the website approximately 10 minutes before the conference begins.
A telephone replay of the conference call will be available from 7:30 p.m. ET on July 10, 2013 until 11:59 p.m. ET on July 17, 2013 by calling 877-870-5176 (domestic) or 858-384-5517 (international) and entering confirmation # 4628897. An archived replay of the conference call will also be available in the investor events section of the company-s website.
Augme® Technologies, Inc. (OTCQB: AUGT), and its wholly-owned subsidiary Hipcricket, provides a customer engagement platform that empowers brands, agencies and media properties to engage customers, drive loyalty and increase sales via mobile. Hipcricket-s customers connect with consumers across every mobile channel, including SMS, 2D/QR codes, mobile websites, advertising networks, social media and branded apps. Hipcricket-s proven technology, strategic and marketing services and experienced account management teams have provided measurable success to a broad range of national and regional brand-name leaders (e.g., MillerCoors, Clear Channel) across an industry-leading 250,000+ campaigns.
Augme is headquartered in Kirkland, WA, with operations in New York City, Atlanta, Dallas, Los Angeles, San Francisco, Chicago, and Miami. For more information visit or .
Augme Technologies, Hipcricket®, Augme®, AD LIFE®, BOOMBOX®, AD SERVE® and the Augme logo are trademarks of Augme Technologies, Inc. All rights reserved. 2009-13.
This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements regarding our expected future financial position, results of operations, cash flows, financing plans, business strategy, products and services, competitive position, growth opportunities, plans and objectives of management for future operations, as well as statements that include words such as “anticipate,” “if,” “believe,” “plan,” “estimate,” “expect,” “intend,” “may,” “could,” “should,” “will,” and other similar expressions are forward-looking statements. All forward-looking statements involve risks, uncertainties and contingencies, many of which are beyond our control, which may cause actual results, performance, or achievements to differ materially from anticipated results, performance, or achievements. Factors that may cause actual results to differ materially from those in the forward-looking statements include those set forth in our Form 10-K for the year ended February 28, 2013, and more recent reports filed with the SEC, including our Quarterly Report on Form 10-Q for the quarter ended May 31, 2013. Our forward-looking statements speak only as of the date of this release. We undertake no obligation to update or revise such forward-looking statements to reflect new information or future events or developments.
Investor Relations Contact:
James Carbonara
Hayden IR
(646)755-7412
or
Public Relations Contact:
Adam Curtis
Abel Communications
(410) 843-3822
You must be logged in to post a comment Login