BEIJING and DALLAS, Nov. 20, 2013 /PRNewswire/ -- NQ Mobile Inc. (NYSE: NQ), a leading global provider of mobile Internet services, today projected record revenues of $305 - 310 million USD for its fiscal year 2014.
This exciting forecast was made during the company's second annual analyst and investor day presentation in New York on November 19, 2013. During the presentation the company also unveiled its 2-5-10 plan, an extension of its 1-2-5 plan introduced at last year's presentation. The plan unveiled how the company expects to reach a revenue run rate of $200 million USD in 2013 which the company achieved in its Q3 2013 report, announced last week; $500 million USD run rate in 2015 and an outlook of hitting the milestone of $1 billion USD run rate by 2017.
The company presented plans to achieve these revenue projections by growing and innovating in its consumer security service line, as well as its enterprise solutions for mobile device management and security. NQ Mobile will also further develop its gaming and advertising businesses. Additionally, the company is always exploring prospects in emerging technologies and new business opportunities such as its recently announced NQ Live platform product."These are exhilarating times for NQ Mobile," exclaimed Co-CEO Omar Khan. "NQ Mobile is in the process of developing the unprecedented opportunity to grow from a mobile security application company to a full service mobile platform which will transform the way people will interact with their mobile devices." Replays of the November 19 presentations will be available on ir.nq.com shortly. Safe Harbor Statement This news release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act and Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. All statements other than statements of historical fact in this press release are forward-looking statements and involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. These forward-looking statements are based on management's current expectations, assumptions, estimates and projections about the Company and the industry in which the Company operates, but involve a number of unknown risks and uncertainties. Further information regarding these and other risks is included in the Company's filings with the U.S. Securities and Exchange Commission. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law. Although the Company believes that the expectations expressed in these forward-looking statements are reasonable, it cannot assure you that such expectations will turn out to be correct, and actual results may differ materially from the anticipated results. You are urged to consider these factors carefully in evaluating the forward-looking statements contained herein and are cautioned not to place undue reliance on such forward-looking statements, which are qualified in their entirety by these cautionary statements.
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