ASX Announcement - MGM Wireless reaches record annual revenues of $ 2.25 million
MGM Wireless reaches record annual revenues of $ 2.25 million
31 July , 2007
South Australian based MGM Wireless Ltd announced today that June quarter revenue (unaudited) reached $512,245, taking annual revenue to a record $2.253m, representing growth of 14% over the previous year.
The company also posted record traffic over its SMS network, with its MessageyouT service handling more than 350,000 text messages during the month of June, a rise of more than 100,000 texts over June 2006 and exceeding the previous record month of 300,000 texts.
MGM Wireless executive chairman, Mr Mark Fortunatow, commenting on the record text traffic, said: "Messageyou has proven its ability to monitor school attendance, fight truancy and improve communication in school communities. There is no doubt that schools are becoming more familiar with the ease and flexibility of sending vital student information to parents and guardians using unobtrusive SMS texts.
"Schools are discovering just how effective it is to send up-to-the-minute information beamed direct to a portal that is never far from most Australians' hands, their mobile phones."
Wild weather during June, especially in New South Wales, also helped boost traffic. "Many schools were able to use Messageyou to warn their communities of weather interruption to the school day or other school events," Mr Fortunatow said.
"Our traffic data history shows that the volume of text messaging on our network grew slowly in our first few years, but has lately been growing exponentially as Messageyou achieves greater market penetration and acceptance within our school customer base. And that is only in Australia."
The June quarter also marked the first significant foreign revenues from overseas sales into the US and India.
"We now have a US footprint with school district customers in California and Arizona. Our challenge as the US school year is about to start, is to capture more market share in this enormous education sector," Mr Fortunatow said.
In India, two large schools in Ahmedabad, capital of Gujurat, started Messageyou trials in the first week of July under a joint venture with Roltin Global.
"We are excited by the prospect of growing the Indian joint venture. Our partners were able to launch Messageyou in two high-profile schools and we look forward to further opportunities being identified in that market. This is an impressive start for a deal that is only three months old."
A highlight of the Australian business was winning "preferred tenderer" status for the supply of SMS messaging software to the Western Australian Department of Education and Training, with a potential customer base of 800 schools. "Sales into the WA public school sector during the quarter were slower than expected while the tender took place," Mr Fortunatow said. "We are now pushing ahead with formal documentation of the role and look forward to lifting our level of involvement in WA Government school communities this financial year."
View text messaging graphs in attachment and full report on the ASX website: www.asx.com.au
For further information contact:
CEO Mark Fortunatow
MGM Wireless Ltd. - (ASX:MWR, MWRO)
Mobile: +61 421 328 984
Phone: +61 8 8431 2300
Email: mfortunatow@mgmwireless.com
Contact
Phone MGM Wireless on
1800 300 346 Toll-Free
or visit our contact page
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