Revised 2012 GAAP Estimates
The Company is raising its estimates for 2012 revenue and EPS as follows:
|Previous Estimate||Revised Estimate|
|Revenue increase year-to-year||25% - 40%||35% - 45%|
|EPS||$1.50 - $1.80||$1.70 - $2.00|
Please note, these estimates may change and could be affected by various adjustments or other conditions. Please read this entire press release and refer to previous and future SEC filings for these and other risk factors.
President Andrew MacInnes stated, "We will continue to use any excess cash flow we produce to fund our successful share buyback program as long as our stock remains undervalued. With efficiencies being added, patents being acquired (just awarded another patent relating to 911 technology we have available), and additional services and products being built, the value of magicJack increases."CEO Dan Borislow added, "We finally launched our Android beta app last week and have seen total downloads of all apps at over 20,000 a day. As previously disclosed, we launched a new invention for our apps. The invention enables anyone who downloads a free app and makes free calls to automatically leave behind a real callback phone number. The invention is patent pending. Other new products are on the way in Q4 including the magicJack Wi-Fi with the best home phone voice quality I have ever heard. With these terrific product and service additions, we expect more customers to renew their licenses in the future and take advantage of purchasing future customer benefits. We have a few more areas for cost cutting and efficiency, but the low hanging fruit and even most of the ripe fruit from the tree has been harvested. magicJack successfully integrated over five business combinations to date and retained all the best employees and technology of each. After building this efficient foundation, the trick now is to add more customers offering more products and services for each one. We can now do this in a measured format (with the efficient foundation we built), enhancing the customer experience every step of the way. We also still have a few inventions up our sleeve and hope they will also add substantial value to the mix."