SCHIPHOL, The Netherlands, Oct. 4, 2012 /PRNewswire/ -- Elephant Talk Communications, Corp. (NYSE: ETAK) formerly (NYSE Amex: ETAK) ( www.elephanttalk.com), an international provider of software and services developed to manage network, billing and systems infrastructure for the telecommunication industry, today announced preliminary third quarter results for 2012.
Preliminary 3Q12 results:
- Mobile and Security revenue was approximately $2.9 million, a year-over-year increase of about 106%, up from $1.4 million in 3Q11
- Mobile and Security revenue accounted for an estimated 44% of total third quarter revenue, up from 18% in the same year ago period
- Gross Margin (revenue minus cost of services), a non-GAAP measure, increased approximately 160% to about $2.1 million representing about 31% of total revenue. Gross Margin for the third quarter of 2011 was $0.8 million and accounted for 10% of revenue.
- Adjusted EBITDA, a non-GAAP measure, improved sequentially to a loss of approximately $2.3 million from a loss of $2.7 million in the second quarter of 2012
- The Company ended the quarter with an unrestricted cash balance of approximately $4.3 million, up slightly from the $4.1 million reported at the end of the second quarter of 2012