Juma Technology Publishes 2010 Year Financial Earnings

Juma Technology Corp, a company operating through its wholly owned subsidiary Nectar Services Corp., has announced its financial results for the full year ending December 31, 2010.

Company officials said that their revenues for the previous year ending have substantially increased $871,930 or 80 percent to $1,958,502 compared with revenues of $1,086,572 for the year ending December 31, 2009.

A reason for this appraisal is due to an increase in sales of the company's Converged Management Platform due to increased adoption from company’s sales channel and marketing efforts.

Apart from that, the company has revealed that its gross margin has increased for the year ending December 31, 2010 from $674,357 or 473 percent to $531,788 compared to $142,569 for the year ending December 31, 2009. The company experienced a net loss of $10,730,680 for the year ending December 31, 2010 compared to a net loss of $19,670,801 for the year ending December 31, 2009.

The company’s operating results have been restated due to the sale of Juma Technology Corp's IP Convergence (News - Alert) business, so this displays the results of the business as a discontinued operation.

Anthony Servidio, CEO of Juma said their Nectar (News - Alert) Services revenues nearly doubled in 2010, furthering their resolve to focus exclusively on continuing to grow their software-as-a-service offering in 2011.

Servidio said, “Now that we have closed on our sale of the integration and managed services division to Carousel Industries, we have reengineered the company in order to provide our unique network monitoring and management solutions to enterprises through the channel partners and carriers we continue to bring on board.”

In other news, Juma Technology and Tellme (News - Alert), part of Microsoft Corp. have allied to deliver speech recognition self-service to Juma’s customers on Tellme’s on-demand platform.  The Tellme service is an addition to the managed services portfolio of Juma’s software subsidiary, Nectar Services Corporation.

With the Tellme/Microsoft (News - Alert) alliance, Juma/Nectar is expanding its Software-as-a-Service, or “SaaS,” offerings in its Enterprise Session Management (nectar/ESM) portfolio.