Third quarter financial shows continued robust growth throughout 2009 despite global economic downturn
NEW YORK – MobilityWire® – November 25, 2009
Flycell, Inc., a leading mobile and online entertainment content company, today announced quarterly financial results citing Q3 2009 as the most successful quarter in the company’s five year history, with an impressive 87 percent increase in revenue over Q3 2008. Despite the economic downturn, Flycell once again reported double-digit growth, including growth in each of its existing countries of operation. Revenue for the first three quarters of 2009 is already a full $23 million more than 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 over $43 million in revenue in Q3 2009 as compared to $23 million earned in Q3 2008. Last quarter Flycell reported $39 million in revenue, giving the company revenue of $103 million for the first three quarters of 2009. Flycell reported 75 million in 2008. With revenues for the first three quarters of 2009 already more than 37 percent over the annual total for 2008, Flycell continues to be a growing and profitable enterprise.
In its report for the quarter ending September 30, Flycell’s parent company Acotel, stated its “earnings revenue of €39,112 thousand marks a 67 percent increase on the third quarter of 2008, reflecting the positive performances achieved primarily by Flycell, Inc.”
|2009 Flycell Revenue ($Millions)||$39||$43||$103 YTD*|
|2008 Flycell Revenue ($Millions)||$19||$23||$75|
|Percentage increase 2009 over 2008||105%||87%|
* Represents financial data from January 1 to September 30, 2009, the first
three quarters of the fiscal year
Flycell’s consistently strong quarterly growth throughout 2009 in the face of a global economic recession continues to prove the mobile entertainment industry is a hot sector.
“Despite the continued economic challenges, Flycell continued to grow the customer base that came to us for our increasingly diversified digital entertainment product and service catalog,” said Alberto Montesi, CEO of Flycell. “New products, particularly our SMS text messaging based games, are gaining in popularity. Flycell is also busy building out new international markets.”
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).
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