Augme Technologies Inc., a full service provider of mMarketing mobile marketing solutions, yesterday announced its operating results for the first quarter of fiscal year 2012, and reaffirmed its guidance for the full fiscal year ending February 29, 2012.
For three months ended May 31, 2011, the company’s recognizable revenue was $1.20 million, an increase of 321 percent compared to revenue of $286,323 in the first quarter of fiscal year 2011, and a 25 percent increase when compared with revenue of $963,004 in the fourth quarter of fiscal 2011.
The company reported a net loss of $4.0 million, or ($0.06) per share, for the quarter first quarter ended May 31, 2011, compared with a net loss of $1.7 million, or ($0.03) per share, in the year-earlier quarter, and a net loss of $6.0 million, or ($0.09) per share, in the fourth quarter of fiscal year 2011.
On a sequential basis, compared with the quarter ended February 28, 2011, Augme’s recognizable revenue increased by 25 percent; deferred revenue rose by 68 percent; and booked revenue grew by 45 percent. The company also improved its gross margin from approximately 58.0 percent of revenue in the fourth quarter of fiscal year 2011 to 69.9 percent in the most recent quarter.
“This revenue growth trajectory demonstrates the aggressive and successful execution of our near-term strategy to drive the adoption of our patented AD LIFE™ mobile platform by adding new logos to our blue-chip customer base and expanding our share of marketing budgets with customers in an ever-widening set of industry verticals,” Paul Arena, CEO of Augme stated in the press release.
As of May 31, 2011, the company reported cash and cash equivalents of $9.9 million. During the first quarter, the company raised $937,915 of capital in equity-related transactions.
The company reaffirmed its forecast that recognizable revenue will exceed $16.0 million for the fiscal year ending February 29, 2012. The company also forecasts reaching positive cash flow during the current fiscal year.
For more information visit www.augme.com