RA'ANANA, Israel, November 10, 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 third quarter of 2011 and the nine months ended September 30, 2011.
Revenues for the third quarter of 2011 were $3.0 million, compared with $2.7 million in revenues during the same quarter last year and revenues of $3.0 million in the second quarter of 2011. The Company's operating profit was $244,000 in the third quarter of 2011 compared to an operating loss of $28,000 for the third quarter of 2010. Net income for the third quarter of 2011 was $226,000 or $0.05 per basic and diluted share, compared with net income of $14,000 or $0.00 per basic and diluted share in the third quarter of 2010. Revenues for the nine month period ended September 30, 2011 were $8.8 million, compared with $8.6 million for the comparable period in 2010. Net income for the nine months ended September 30, 2010 was $588,000 or $0.13 per basic and diluted share, compared with net income of $59,000 or $0.01 per basic and diluted share in the comparable period in 2010.
Our cash and marketable securities rose to $3.0 million at September 30, 2011, which reflects our improved operating cash flow of $794,000 during the nine month period ended September 30, 2011."The Company's CC&B solution for Mobile Virtual Network Operator (MVNO) activity has grown both as license and managed service. We have recently signed 2 new contracts with multinational MVNOs to provide customer care & billing (CC&B) solution" said Eytan Bar, CEO of MTS. 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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