MediaRing Reports Q2 2008 Revenue Growth of 29% and Improved Operating Results over Q2 Last Year
- Both voice and non-voice segments registered growth over Q2 2007
- Non-voice (Data and Infrastructure) segment accounted for 32% for Q2 2008 compared to 11% for Q2 2007
SINGAPORE – 14 August 2008 – Mainboard-listed MediaRing Ltd (“MediaRing” or the “Group”)Group”), a one-stop premier Internet Protocol (“IP”) communications provider of Voice, Data and Infrastructure services in the Asia Pacific, reported today a 29% increase in revenue to US$33.5 million and a net loss of US$0.4 million for the three months ended 30 June 2008 (Q2 2008).
The Group’s results for the quarter were affected by Foreign Exchange Losses (US$0.5 million) and the one-off disposal charge of PT Atlasat (US$0.2 million). Excluding these losses, the Group’s results for the quarter would have been a Net Profit After Tax of US$0.2 million. This is an improvement over Q2 2007 when the one-off items are also excluded.
For the half year ended 30 June 2008 (1H 2008), revenue grew by 34% to US$68.8m, with voice traffic growing by 18% and Data and Infrastructure revenue growing significantly driven in part by the acquisition of Cavu. The Data and infrastructure segment now accounts for 30% of the Group’s revenue compared to 8% in the first half of last year.
Net Profit After Tax for 1H 2008 was US$0.5 million. Excluding the Foreign Exchange losses and one-off item, the Net Profit After Tax would have been US$1.5 million. This is also an improvement over the results of the corresponding period last year when the one off items are excluded.
Said MediaRing’s CEO, Mr. Khaw Kheng Joo, “The operating results are an improvement over last year. Both the Voice and non-Voice segments registered good growth. MediaRing’s revenue is better diversified now and overall, we are pleased with the progress made in the first half of the year”.
Outlook
With its goal of becoming a truly one-stop premier IP communications provider in the region firmly in sight, MediaRing is busy growing its Voice, Data and Infrastructure services.
Among other strategies, the Group has increased its marketing programmes aimed at defending and growing its existing markets for Voice Services and expanding into new ones. Since the beginning of 2008, the Group has launched and/or promoted VoIP services such as MediaRing Talk and MediaRing MobileVoIP across the globe and response from users has been encouraging. MediaRing Talk exceeded a million customers earlier this year and the user base is still growing at a rapid pace. MediaRing will continue to invest in these new voices services for the foreseeable future.
MediaRing also intends to leverage its integrated Voice-Data-Infrastructure capabilities to win more customers. The innovative Utility Computing Model from our Computing Services unit continues to win new enterprise customers and has a very bright future. Feedback from customers is uniformly positive.
"We believe that our one-stop, single platform capability provides an attractive and cost effective solution for customers as we are able to fulfill their IT infrastructure and IP communications needs. It’s a total solution," said Mr Khaw.
In addition, the Group will continue to actively seek opportunities to expand its operations in Asia through acquisitions and partnerships and will, at the same time, be diligent of the changing regulations in the countries that use its services.
About MediaRing Talk: http://www.mediaringtalk.com
A VoIP service based on an intuitive soft-phone client, offers unlimited PC-to-PC calls worldwide along with instant text messaging, voice conferencing, text collaboration, and many more features whiles its PC-to-Phone service offers highly competitive rates to call landline or mobile phones anywhere in the world.
About MediaRing MobileVoIP: http://www.mediaringmobile.com
A service that offers free unlimited mobile calls amongst its users when connected to the Internet through a WiFi network. MobileVoIP users enjoy very attractive low rates when calling any fixed-line, mobile contacts not enrolled with the service and/or connected to Internet. The service leverages on MediaRing’s extensive and highly robust Global IP network.
About MediaRing
With offices in Singapore, Malaysia, Shanghai, Beijing, Hong Kong, Taiwan, Japan, Cambodia and Sunnyvale (USA), MediaRing is a one-stop service provider for Voice, Data and Computing Services with leading edge in VoIP technology. Through its strong technological capabilities and extensive distribution network, MediaRing brings high-quality Voice services to carriers, enterprises, service providers and consumers with its wide range of service offerings. MediaRing’s Data and Computing Services unit offers the innovative Utility Computing to numerous enterprise customers. In addition, services such as IT Infrastructure Hosting and Outsourcing, Broadband Access, Managed Network as well as various Network Based Services are within the scope of this unit. MediaRing is well position as the Enterprise preferred one-stop service provider for Voice, Data and Computing Services.
Contact Information:
Singapore : August Consulting
Tel: +65 6733 8873 Fax: +65 6733 9913
Silvia HENG – silvia@august.com.sg
|
