The three crowd-testing agreements are expected to generate $3 million in revenue for the company. The agreements for crowd-based testing include: a multi-year program with a Chinese consumer technology company to gauge local consumer sentiment, a new engagement with a global consumer technology company to verify geo-location data, and a "domestic mobile terrain testing engagement" with a Fortune 100 U.S. auto insurance firm.
Lionbridge did not identify any new clients by name.
"Lionbridge's ability to deliver managed crowd testing anywhere, anytime, with native speakers in nearly any language, is a unique differentiator in the testing market," senior vide president of Lionbridge's Global Enterprise Solutions Martha Crow said in a press release.
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TheStreet Ratings team rates LIONBRIDGE TECHNOLOGIES INC as a "buy" with a ratings score of B-. TheStreet Ratings Team has this to say about their recommendation:
"We rate LIONBRIDGE TECHNOLOGIES INC (LIOX) a BUY. This is driven by multiple strengths, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its revenue growth, largely solid financial position with reasonable debt levels by most measures, increase in net income, growth in earnings per share and solid stock price performance. We feel these strengths outweigh the fact that the company shows low profit margins."