Apr 02, 2012 (Datamonitor via COMTEX) -- MTS, a provider of comprehensive telecommunications expense management solutions, has reported that net loss for the fourth quarter ended December 31, 2011 was $201,000, or $0.05 loss per diluted share, compared to a net income of $117,000 or $0.03 per diluted share, for the same quarter ended December 31, 2010.Revenues for the fourth quarter ended December 31, 2011 were $3.2 million, compared to $3 million for the same quarter ended December 31, 2010.
Net income for the year ended December 31, 2011 was $387,000, or $0.09 per diluted share, compared to $176,000, or $0.04 per diluted share, for the year ended December 31, 2010.
Revenues for the year ended December 31, 2011 were $12.0 million, compared to $11.6 million for the year ended December 31, 2010.
"MTS has made sustained changes in its operations by reducing operating expenses and we are seeking new business opportunities. The results of this process are reflected in the Company's improved cash position and financial results," said Eytan Bar, CEO of MTS.
"The Company continues to develop Telecom Expense Management opportunities through partners and existing customers. In addition, the Company's Billing and Mobile Virtual Network Operator's (MVNO) activity has grown both as a licensed offering and as a managed service. We are looking forward to improve both our top and bottom line performance," Mr. Bar said.
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