Redknee (TSX:RKN) announced its Q1, 2012 results today. Revenue of $14.0-million compared favourably to last year’s $13.6-million. The company earned $950,000 or a penny a share, compared to last year’ s Q1 loss of $670,000.
CEO Lucas Skoczkowski, commenting on the quarter, said: “Our strategy is to focus on real-time converged billing and customer care with on-premise and cloud delivery capability, the emphasis being on a multiyear term-based licensing model.” He said, adding “We remain focused on securing long-term recurring revenue and earnings potential, and ultimately building shareholder value.”
This story is brought to you by Serenic (TSXV:SER). Serenic’s market cap of $3.18 million (as of January 27th, 2012) was less than its cash position of $4.03 million (as of Q2, 2012). The company has no debt. Click here for more information.
While today’s numbers were at least a mild positive, shares of Redknee, which at press time were up 13% to $1.22, may be trending higher for two other reasons. First, the company announced a record order backlog of $60.6-million, much higher than even Q4 2011’s $46.4-million. On top of that, the board announced a normal course issuer bid to buy back up to 4.7 million shares.
Founded in the solarium of Skoczkowski’s apartment in 1999, Redknee now boasts clients such as Microsoft and Cisco. The company’s billing solutions run the gamut from the customer side to helping service providers better monitor, understand and monetize their subscriber base. At the recent Mobile World Congress in Barcelona Redknee said its real-time converged billing solution has been benchmarked to support 250 million subscribers.
At Cantech Letter we prize independent journalism like you do. And we don't care for paywalls and popups and all that noise That's why we need your support. If you value getting your daily information from the experts, won't you help us? No donation is too small.
Cantech Letter founder and editor Nick Waddell has lived in five Canadian provinces and is proud of his country's often overlooked contributions to the world of science and technology. Waddell takes a regular shift on the Canadian media circuit, making appearances on CTV, CBC and BNN, and contributing to publications such as Canadian Business and Business Insider.
Ahead of the company's first quarter results, Beacon analyst Russell Stanley thinks Ascend Wellness (Ascend Wellness Stock Quote, Chart, News,… [Read More]
Following the company's fourth quarter results, Paradigm Capital analyst Daniel Rosenberg has cut his price target on Snipp Interactive (Snipp… [Read More]
Following the company's first quarter results, Roth MKM analyst Chip Moore remains neutral on Generac Holdings (Generac Holdings Stock Quote,… [Read More]