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TMCNet: Lenco Mobile Reports 2010 First Quarter Financial Results

[May 23, 2010]

Lenco Mobile Reports 2010 First Quarter Financial Results

May 24, 2010 (Close-Up Media via COMTEX) -- Lenco Mobile announced its financial results for the first quarter of financial 2010, and provided updated information on its international expansion.

In a May 17 release, Lenco reported revenue for the three months ended March 31, was up 161 percent to $3,784,220 compared to $1,448,720 for the three months ended March 31, 2009. Revenue for the mobile phone business segment was up 29 percent to $1,099,000 and revenue for the online operations was $2,365,020. The online operations were acquired on March 1, 2009, making first quarter comparatives year-over-year not meaningful.

Since October 2009, wireless carriers have sent more than 250 million MMS messages using Lenco Mobile's MMS messaging platform, which is installed in South Africa, Australia, the United Kingdom and the United States. The MMS messaging platform enables wireless carriers to send high volumes of MMS messages in a cost effective and efficient manner.

Lenco Mobile owns and operates businesses focused on the mobile marketing and Internet sectors.

((Comments on this story may be sent to newsdesk@closeupmedia.com))

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