RA'ANANA, Israel, August 16, 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 second quarter of 2012.
Revenues for the second quarter of 2012 were $3.3 million, compared with $3.0 million in revenues during the same quarter last year and revenues of $3.0 million in the first quarter of 2012. The Company's operating profit was $517,000 in the second quarter of 2012 compared to an operating profit of $191,000 for the second quarter of 2011 and $280,000 in the first quarter of 2012. Net income for the second quarter was $460,000 or $0.10 per diluted share, compared with net income of $229,000 or $0.05 per diluted share in the second quarter of 2011 and $310,000 or $0.07 per diluted share in the first quarter of 2012. Revenues for the six month period ended June 30, 2012 were $6.3 million, compared with $5.8 million for the comparable period in 2011. Net income for the six months ended June 30, 2012 was $770,000 or $0.17 per diluted share, compared with net income of $362,000 or $0.08 per diluted share in the comparable period in 2011.
As of June 30, 2012, we had cash and marketable securities of $4.3 million as compared to $3.4 million as at December 31, 2011. During the six month period ended June 30, 2012 we had positive operating cash flow of $1.0 million, as compared to positive operating cash flow of $535,000 during the six month period ended June 30, 2011."Our second quarter results represent continued improvements in our financial results and indicators as a result of our efforts to develop our Telecom Expense Management opportunities through partners, new customer acquisitions and expanding our existing customer base," said Eytan Bar, CEO of MTS. "In addition, our company's Billing and Mobile Virtual Network Operator (MVNO) activity as a managed service has grown and we were able to sign an additional managed service agreement with a new MVNO in the U.S. and we see other opportunities in this market. We are looking forward to improving both our top and bottom line performance," concluded Mr. Bar.
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