MacroSolve Announces 104% Increase in Gross Profit for Fiscal 2012
Eight Consecutive Quarters of Growth Driven by Mobile App Technologies & Licensing
(firmenpresse) - TULSA, OK -- (Marketwire) -- 03/05/13 -- MacroSolve, Inc. (OTCQB: MCVE) ("MacroSolve" or the "Company"), a leading provider of mobile technologies intellectual property, today announced financial results for its fiscal year ended December 31, 2012.
Highlights for the 2012 fiscal year include:
Revenues increased 113% to $2,988,000 in FY 2012 from $1,404,000 in FY 2011;
Gross profit increased 104% to $1,683,000 in FY 2012 from $858,000 in FY 2011;
4th quarter revenues grew by 154% to $982,000 in Q4 of 2012 from $637,000 in Q4 of 2011
Gross profit in Q4 of 2012 was $561,000, a 148% increase over Q4 2011 gross profit of $379,000; and
Revenues grew by 76% on a quarter-over-quarter basis from $559,000 in Q3 of 2012 to $982,000 in Q4 of 2011.
Revenues for the twelve months ended December 31, 2012 were $2,988,000 as compared to $1,404,000 in the fiscal year ended December 31, 2011. This $1,584,000 or 113% rise is due to increases in IP licensing and services.
Gross profit for fiscal 2012 rose 104% to $1,683,000 from $825,000 in fiscal 2011 primarily due to the sale of Illume Mobile in July and the elimination of its lower margin professional services.
Operating expenses increased 41% in fiscal 2012 to $3,025,000 from $2,139,000 in 2011 primarily due to expansion of Illume Mobile's sales and marketing in the first half of the year and one-time charges related to the divestiture of Illume Mobile. Loss from operations was $1,343,000, an increase of $30,000 or less than 1% over operating loss of $1,313,000 in fiscal 2011.
Net loss for fiscal 2012 was ($1,776,000) or $(0.01) per share, as compared to fiscal 2011 net loss of $(2,534,000), or $(0.02) per share, a decrease of ($758,000) or 30%. The decrease was primarily due to the sale of Illume Mobile and the elimination of its operating losses. The Company improved its use of cash in operations, with cash used in operating activities declining by $769,000 in fiscal 2012 as compared to fiscal 2011.
"During fiscal 2012, we made a strategic decision to sell the Illume Mobile business unit and implement a strategy towards debt elimination and profitability. As anticipated, we achieved positive cash flow and profitability in the fourth quarter. Our experienced management team is leveraging our unique position in the mobile app intellectual property space by providing advisory services to a portfolio of clients, including mobile app developers, fortified by intellectual property, which in combination can create substantial passive revenues and equity holdings for our shareholders," stated MacroSolve CEO and President, Jim McGill.
For further information please see MacroSolve's full 10-K filing at .
Founded in 1997, MacroSolve is heralded for its robust IP portfolio, while advancing throughout the mobile apps era by innovating key technologies that have laid the foundation for apps and next-gen developers. Today, MacroSolve is empowering a new era of mobile innovators seeking advisory services and IP strength from a source of experience. For more information, visit .
This press release contains projections of future results and other forward-looking statements that involve a number of risks and uncertainties and are made pursuant to the Safe Harbor Provisions of the Private Securities Litigation Reform Act of 1995. Important factors that may cause actual results and outcomes to differ materially from those contained in the projections and forward-looking statements included in this press release are described in our publicly filed reports. Factors that could cause these differences include, but are not limited to, the acceptance of our products, lack of revenue growth, failure to realize profitability, inability to raise capital and market conditions that negatively affect the market price of our common stock. The Company disclaims any responsibility to update any forward-looking statements.
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Datum: 05.03.2013 - 13:00 Uhr
Sprache: Deutsch
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