Fourth quarter financial results shows company nearly doubled annual revenue despite global economic downturn
NEW YORK – MobilityWire® – April 7, 2010
Flycell, Inc. (www.flycell.com), a leading mobile and online entertainment content company, today announced quarterly and annual financial results citing 2009 as the most successful year in the company’s history, nearly doubling is annual revenue over 2008, and growing fourth quarter revenue by an impressive 153 percent over the same quarter in 2008. Despite the economic downturn, Flycell consistently reported double-digit growth throughout 2009, including growth in each of its existing countries of operation.
“Flycell continues to grow our business in multiple directions,” said Flycell CEO Alberto Montesi. “Having learned from our experience in bringing popular entertainment services tailored for specific geographies, Flycell is now in a position to easily replicate our services in new markets, while still providing the digital content that is locally relevant. Even as we add new markets we continue to grow the catalog of content and services Flycell provides. The ability to grow both markets and content is due in large part to the continued growth of our subscriber base in each market. Looking out to 2010, we plan to bring more innovative entertainment services that our subscribers can use both on their mobile phones and online.”
Flycell’s parent company Acotel Group (MIL: ACO) reported Flycell took in over $43 million in revenue in Q4 2009 as compared to $17 million earned in Q4 2008. Last quarter Flycell also reported $43 million in revenue, giving the company revenue of $146 million for the 2009 fiscal year. By comparison, Flycell reported 75 million in revenue for the 2008 fiscal year. Flycell finished 2009 with revenue in excess of 95 percent greater than 2008.
In its 2009 annual report, Flycell’s parent company Acotel, stated that “within the services segment (€127.5 million), the largest portion of revenues (€104.9 million) was generated by the B2C services provided by the US subsidiary, Flycell Inc.”
|2009 Flycell Revenue ($Millions)||$43||$43||$146|
|2008 Flycell Revenue ($Millions)||$23||$17||$75|
|Percentage increase 2009 over 2008||105%||87%||95%|
* Flycell’s Fiscal Year is the same as the calendar year.
Flycell’s consistently strong quarterly growth throughout 2009 in the face of a global economic recession continues to prove the digital entertainment industry is a hot sector.
The 2009 financial results capped off an incredibly busy year for the company. In 2009 Flycell opened new international markets including Mexico and Argentina, and launched new services including the popular games SMS Love and Bid Hunter. The company also expanded its presence in Web-based entertainment by creating the online casual games portal Gamorama (www.gamorama.com) which launched this past February.
Alberto Montesi was also recognized for his leadership, being named a finalist in the International Business Awards and Most Visionary Consumer Services Executive of 2009 by the Mobile Star Awards.
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).
For more information concerning Flycell visit: http://www.flycell.com.
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