RA'ANANA, Israel, May 10, 2012 /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 first quarter of 2012.
Revenues for the first quarter of 2012 were $3.0 million, compared with $2.8 million in revenues during the same quarter last year. The Company's operating profit was $280,000 in the first quarter of 2012, compared to operating profit of $4,000 for the first quarter of 2011. Net income for the first quarter was $310,000, or $0.07 per diluted share, compared to net income of $133,000, or $0.03 per diluted share, in the first quarter of 2011. As of March 31, 2012, MTS had cash and marketable securities of $3.5 million as compared to $3.4 million as of December 31, 2011.
"Our first quarter results were in line with our expectations for improved operating results. The Company is continuing to develop its Telecom Expense Management opportunities through partners, new customer acquisitions and expanding our existing customer base. In addition, the Company's Billing and Mobile Virtual Network Operator (MVNO) activity has grown both as a licensed offering and as a managed service. We are looking forward to improving both our top and bottom line performance," 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.