Q2 2009 numbers mean another earnings milestone for the five year old digital entertainment leader
NEW YORK – MobilityWire® – August 31, 2009
Flycell, Inc., a leading mobile and online entertainment content company, today announced quarterly financial results citing Q2 2009 as the most successful quarter in the company’s five year history. Despite the economic downturn, Flycell again reported double-digit growth, including growth in each of its existing countries of operation. Revenue for the first half of 2009 is almost equal to the results for all of 2008, the most successful full year Flycell has had to date.
Flycell’s parent company Acotel Group (MIL: ACO) reported Flycell took in just over $37 million in revenue in Q2 2009 as compared to $19 million earned in Q2 2008. Last quarter Flycell reported $23 million in revenue giving the company H1 2009 revenue of $60.5 million. Acotel reported Flycell earned $75 million in 2008. With revenues for the first six months of 2009 already above 80 percent of the annual total for 2008, Flycell continues to be a growing and profitable enterprise.
|2009 Flycell Revenue ($Millions)||$23||$37||$60||$60 YTD*|
|2008 Flycell Revenue ($Millions)||$14||$19||$33||$75|
|Percentage increase 2009 over 2008||64%||95%||83%|
* Represents financial data from January 1 to June 30, 2009, the first six months of the fiscal year
Despite an ailing global economy, Flycell continues to buck the downward financial trend with 60 percent growth from Q1 to Q2 2009; Q2 2009 represents a dramatic 95 percent increase over Q2 2008, proving the mobile entertainment industry is a hot sector.
“We couldn’t be happier with our Q2 results, especially given the tough economic climate,” said Alberto Montesi, CEO of Flycell. “This kind of growth would be impressive in any market, so given the current state of the economy, we are particularly gratified to be expanding, gaining new customers and increasing our revenue. We are seeing that the low price point of mobile content is especially attractive as more and more people are using their mobile phones as their entertainment hub and personalizing them with ringtones, games and applications.”
Ringtones continue to be the most popular mobile content beyond text messaging and email. During the last quarter Flycell expanded into other areas of mobile entertainment, including a new SMS-based low bid auction game called Bid Hunter and a text messaging based quiz game called SMS Love. Flycell plans to further expand its offerings this year as it keeps a finger on the pulse of consumer interests and industry trends.
Flycell, Inc. is a leading mobile and online media and entertainment destination. Flycell lets people from all walks of life personalize their phones with the mobile content that reflects their own unique tastes in entertainment, sports, games and more. The company partners with media companies and mobile network operators globally that utilize Flycell’s cutting edge multimedia applications and services. Headquartered in New York, N.Y. and launched in 2004, Flycell is a wholly-owned subsidiary of wireless services company Acotel Group (MIL: ACO).
Follow MobilityWire news releases on Twitter:
Short URL for this post: http://mopr.us/1w