Strong Q2 2010 revenue continues streak of consecutive quarters with double digit growth as Cristian Carnevale is tapped to lead company
NEW YORK, New York – MobilityWire® – September 20, 2010
Flycell, Inc. (www.Flycell.com), a leading mobile and online entertainment content company, today announced quarterly financial results for Q2 2010, indicating the company continues to have strong sales in mobile and digital content. Despite new North American and European mobile commerce regulations that took effect in the second quarter in both markets, creating conditions that negatively impact revenue across the mobile content industry, Flycell reported revenue of $36.4 million for the three months ending June 30, 2010. Combined with the company’s Q1 results, Flycell’s first half revenue figure for 2010 stands at $76.2 million, up 26 percent over the first half of 2009.
Flycell also announced the appointment of Cristian Carnevale as its CEO. Mr. Carnevale previously served as Flycell’s chief operating officer, a position he has held since Flycell was founded in 2004, and has been instrumental in leading the company through years of consistently strong revenue growth and international expansion. Mr. Carnevale, who replaced Alberto Montesi in August, has served in several executive positions with Flycell’s parent company, Acotel Group, including as its chief technology officer. He also played a key role in the company’s successful IPO in 2000.
“Changes in business conditions in important countries in which Flycell operates impacted Flycell’s revenue in Q2 2010, masking our continued growth,” said Mr. Carnevale. “Although revenue is down slightly from the previous quarter and same quarter last year, we at Flycell continue to expand our customer base. Flycell is a nimble organization and is adapting quickly to changes in business conditions. The company is looking forward to continuing its strong revenue throughout the year, making 2010 its most successful year ever.”
Flycell took in just over $36.4 million in revenue in Q2 2010 as compared to $39.6 million earned in Q2 2009. Last quarter Flycell reported $39.8 million in revenue, the company’s strongest first quarter to-date, giving the company H1 2010 revenue of $76.2 million compared with $60.5 million earned in the first six months of 2009.
|2010 Flycell Revenue ($Millions)||$39.8||$36.4||$76.2||$76.2 YTD*|
|2009 Flycell Revenue ($Millions)||$20.9||$39.6||$60.5||$146.3|
|Percentage increase 2010 over 2009||90.4%||(8.1%)||26%|
* Represents financial data from January 1 to June 30, 2009, the first six months of the fiscal year
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/corporate.
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