CommerceTel Corp., an award-winning provider of proprietary mobile marketing technologies and solutions, announced today that for the third quarter ending September 30, 2011 the Company anticipates revenue to exceed $800,000 with a growing customer base totaling over 1,500. The anticipated revenue is 40% higher than CommerceTel reported the previous quarter and puts them on course to hit $1 million in sales by the end of the fourth quarter. CommerceTel projects a 320% growth for the last quarter of this year compared to fourth quarter 2010 revenues of $236,000.
“This has been a busy year for CommerceTel,” said Dennis Becker, CEO, CommerceTel Corporation, in a press release on Wednesday. “Completing three acquisitions, ramping to a customer base of over 1,500 clients, and building a team of over forty employees in less than a year has been an exciting challenge. Fortunately our growth strategy is producing the expected results, and our financial performance reflects that success.”
CommerceTel provides technology that allows brands to engage consumers via their mobile phones. The Company generates revenues from licenses of its software, per message and per minute transaction fees, and customized professional services. Recent acquisitions include Txtstation and Mobivity, both in April, and BoomText in August. The recent acquisition of BoomText is projected to add about $250,000 revenue in August and September. The Company also expects that Adjusted EBITDA, non-cash stock based compensation, and non-cash changes in the fair market value derivatives will continue to be improved over the first and second quarters of 2011.
“We expect the combination of our acquisition strategy with our award-winning technology to provide more than top-line revenue growth,” added Becker in the statement. “As we continue the integration process, we believe all three acquisitions will contribute to improvement to our bottom line as well.”
For more Information and to see an updated corporate presentation, please visit www.commercetel.com
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