Numerex Postpones 4th Quarter and Full Year 2012 Financial Results Conference Call
Mar 14, 2013 (Close-Up Media via COMTEX) --
Numerex Corp, a provider of on-demand and interactive machine-to-machine (M2M) enterprise solutions announced that it has rescheduled its fourth quarter and full year 2012 conference call to March 18.
According to a release, management will hold a conference call at 9.00 a.m. Eastern time to discuss the results.
The postponement will give the Company additional time to finalize the audited financial results for the full year 2012. The Company expects to file its annual report on Form 10-K on time.
The Company also announced that during the fourth quarter of 2012 that it added 135,000 M2M subscriptions bringing its base to 1.9 million at the end of 2012. These additional subscriptions generated a further increase in recurring revenue resulting in the expectation of another profitable quarter.
Stratton Nicolaides, chairperson and CEO of Numerex stated, "The Company's subscription growth in 2012 was above expectations as a result of strong demand from our channel partners and customers. We believe that this trend will continue and, as a result, we expect to grow our M2M subscription base between 27 percent and 32 percent in 2013. This growth in subscriptions will drive additional 2013 M2M recurring revenues, which we anticipate will increase by 18 percent to 23 percent. In addition, the Company has in excess of $25 million in cash after retiring its bank debt, as a result of the capital raise completed in the current quarter."
Dial-in information for the conference call is as follows:
Domestic USA & Canada: 877 551-8082
International: 904 520-5770
A live webcast of the call will be available via Numerex's web site under the Investor Relations section.
A recorded replay of the conference call will be available two hours after the end of the call on the Numerex web site or by dialing the replay numbers below:
Domestic USA & Canada: (888) 284-7564
International: (904) 596-3174
Please use pass code: 2978511
Numerex Corp is a provider of interactive and on-demand machine-to-machine (M2M) technology and service, offered on a subscription basis, used in the development and support of M2M solutions for the enterprise and government markets worldwide.
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