Flycell, Inc. ( www.Flycell.com), a leading mobile and online entertainment content company, today announced quarterly and annual financial results, citing 2009 as the most successful year in the company’s history, nearly doubling its annual revenue over 2008, and growing fourth-quarter revenue by an impressive 153 percent over the same quarter in 2008. Despite the economic downturn, Flycell consistently reported double-digit growth throughout 2009, including growth in each of its existing countries of operation.
“Flycell continues to grow our business in multiple directions,” said Flycell CEO Alberto Montesi. “Having learned from our experience in bringing popular entertainment services tailored for specific geographies, Flycell is now in a position to easily replicate our services in new markets, while still providing the digital content that is locally relevant. Even as we add new markets, we continue to grow the catalog of content and services Flycell provides. The ability to grow both markets and content is due, in large part, to the continued growth of our subscriber base in each market. Looking out to 2010, we plan to bring more innovative entertainment services that our subscribers can use both on their mobile phones and online.”
Flycell’s parent company, Acotel Group (MIL:ACO), reported Flycell took in over $43 million in revenue in Q4 2009, as compared to $17 million earned in Q4 2008. Last quarter, Flycell also reported $43 million in revenue, giving the company revenue of $146 million for the 2009 fiscal year. By comparison, Flycell reported 75 million in revenue for the 2008 fiscal year. Flycell finished 2009 with revenue in excess of 95 percent greater than 2008.
In its 2009 annual report, Flycell’s parent company, Acotel, stated that “within the services segment (€127.5 million), the largest portion of revenues (€104.9 million) was generated by the B2C services provided by the US subsidiary, Flycell Inc.”
2009 Flycell Revenue ($ Millions)
2008 Flycell Revenue ($ Millions)
|Percentage increase 2009 over 2008||87%||153%||95%|
* Flycell’s Fiscal Year is the same as the calendar year.