One Horizon Group Announces First Quarter 2015 Financial Results
(firmenpresse) - LIMERICK, IRELAND -- (Marketwired) -- 05/20/15 -- One Horizon Group, Inc. (NASDAQ: OHGI) ("One Horizon", "We" or the "Company"), which develops and licenses bandwidth efficient mobile voice over Internet Protocol ("VoIP") platform for smart phones, announced financial and operational results for the first quarter ending March 31, 2015.
Successful rollout of :
Logged 1.6 million downloads as of March 31, 2015 and surpassed 3 million downloads to date.
Now available in over 40 smartphone App stores including; Baidu's and , the Tencent App store , 360 Qihoo store and the hugely exciting newcomer Xiaomi on .
Commenced penetration into Latin American market by signing a Horizon license contract with a premier regional operator
in the Philippines continued its rollout of the Horizon App branded LinkPlus with installations in over 125 vessels to date and observed significant growth on the data consumption and voice over IP call revenues from its solution.
continued its rollout of the Horizon App branded AIO Mobile and has commenced the first phase of its marketing activities.
in Indonesia continued its rollout of the Horizon App branded SmartCall and has commenced the first phase of its marketing activities.
"The most exciting progress since launching our Aishuo App in the first quarter is that we continue to see quantities of downloads that are exceeding our internal projections," stated Founder and CEO Brian Collins. "Together the Aishuo App, our validated technology and success with Tier-1 carriers such as SingTel, Smart Communications and Smartfren and with the signing of our first license contract in Latin America, we believe that we are well positioned for growth through the remainder of 2015 and beyond," concluded Mr. Collins.
Our revenue for the three months ended March 31, 2015 was approximately $0.7 million as compared to approximately $1.2 million in the same period in 2014. The decrease was primarily due to the fact that $0.5 million recognized during the first quarter of 2014 on a Global Exchange installment was recognized in the fourth quarter of 2014 instead of the first quarter of 2015 because the invoice was received in December 2014, a month earlier than the previous year. Going forward, the Company expects the percent of total sales from software licenses and revenue share which inherently incorporates higher margins to increase. The Company expects revenue to increase in 2015 as more customers launch their services using the Horizon products and Aishuo platform gains further traction.
Gross profit and gross profit margins amounted $0.2 million and 23.1% respectively for the three months ended March 31, 2015.
Operating expenses for the three months ended March 31, 2015 declined to $1.1 million from $1.2 million during the same period in 2014. In an effort to shift the Company's business model from being purely a B2B business, the Company has allocated its resources to developing the B2C network and system in China where they have a greater influence on customer product development. One Horizon undertook considerable work in 2014 and launched its App on B2C network in February 2015.
Net loss and net loss per share attributable to common stockholders for the three months ended March 31, 2015 were $1.0 million and $0.03 per share, respectively, compared to a net loss of $0.4 million and a net loss per share of $0.01 during the same period in 2013. The weighted average shares outstanding remained 33.3 million for the three months ended March 31, 2015.
The company had $1.9 million in cash as of March 31, 2015. The Company has $23.0 million of assets and $16.6 million shareholders' equity as of March 31, 2015. Cash outflows from operations were $0.6 million for the three months ended March 31, 2015.
One Horizon Group Inc.'s business is to optimize communications over the Internet through its wholly owned subsidiary, Horizon Globex GmbH, which develops and markets one of the world's most bandwidth-efficient mobile voice over Internet Protocol (VoIP) platforms for smartphones, and also offers a range of other optimized data Applications including messaging and mobile advertising. The company owns and operates the Aishuo mobile VoIP service in China. Horizon Globex GmbH is an ISO 9001 and ISO 20000-1 certified company. The Company has operations in Switzerland, the United Kingdom, China, India, Singapore, Hong Kong and Ireland. For more information on the Company, its products and services, please visit .
This news release may contain "forward-looking" statements. These forward-looking statements are only predictions and are subject to certain risks, uncertainties and assumptions that could cause actual results to differ from those in the forward looking-statements. Potential risks and uncertainties include such factors as uncertainty of consumer demand for the Company's products, as well as additional risks and uncertainties that are identified and described in Company's SEC reports. Actual results may differ materially from the forward-looking statements in this press release. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. The Company does not undertake, and it specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences, developments, events or circumstances after the date of such statement.
Contact:
MZ North America
Ted Haberfield
President
Tel: +1-760-755-2716
Email:
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Datum: 20.05.2015 - 13:53 Uhr
Sprache: Deutsch
News-ID 394676
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LIMERICK, IRELAND
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Internet
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