RA'ANANA, Israel, August 11, 2011 /PRNewswire/ --
MTS - Mer Telemanagement Solutions Ltd. (Nasdaq Capital Market: MTSL), a global provider of business support systems (BSS) for comprehensive telecommunication management, telecommunications expense management (TEM) solutions and customer care & billing (CC&B) solutions, today announced its financial results for the second quarter of 2011.
Revenues for the second quarter of 2011 were $3.0 million, compared with $3.1 million in revenues during the same quarter last year and revenues of $2.8 million in the first quarter of 2011. The Company's operating profit was $191,000 in the second quarter of 2011 compared to an operating profit of $42,000 for the second quarter of 2010. Net income for the second quarter was $229,000 or $0.05 per diluted share, compared with net income of $47,000 or $0.01 per diluted share in the second quarter of 2010. Revenues for the six month period ended June 30, 2011 were $5.8 million, compared with $5.9 million for the comparable period in 2010. Net income for the six months ended June 30, 2010 was $362,000 or $0.08 per diluted share, compared with net income of $45,000 or $0.01 per diluted share in the comparable period in 2010.
"Our second quarter results were in line with our expectations for improved operating results. They reflect the focus we placed on improving our implementation processes while closely monitoring our overall costs," said Alon Mualem, CFO of MTS. "We had cash and marketable securities of $2.8 million at June 30, 2011, which reflects our improved operating cash flow of $535,000 during the six month period ended June 30, 2011."About MTS Mer Telemanagement Solutions Ltd. (MTS) is a worldwide provider of innovative solutions for comprehensive telecommunications expense management (TEM) used by enterprises, and for business support systems (BSS) used by information and telecommunication service providers.
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