OnMobile Global total revenue of Rs 863 mn

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OnMobile Global total revenue of Rs 863 mn

OnMobile Global Limited Total Revenue of Rs. 863 Mn, EBITDA (excluding other income) of Rs. 209 Mn, Net Income of Rs. 152 Mn, EPS of Rs. 3 per share

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OnMobile Global Limited , leader in the Indian telecom value added services space, announced its results for its First quarter ended June 30, 2008 following its approval by the Board of Directors in the meeting held on July 31, 2008 in Bangalore.

Performance Highlights

Historically the first quarter of a fiscal year has seen us delivering 17 to 22% of full year revenues and profit after taxes.  Our results in the first quarter of this fiscal year are in line with our full year guidance and our historical first quarter performance.

The Q1 margins are lower because of onetime expenses associated with the recent Telisma acquisition and foreign exchange loss on account of Euro fluctuation on earnout related payout to Voxmobili shareholders. Without these onetime expenses our profit after tax margin would be around 21%.

The other contributor is the change in business model we have pursued in the large Asian markets for our Voxmobili Phone Backup service. We have, since the acquisition, sold the product into over ten (10) telecom customers on a long term contract, recurring revenue share basis rather than a onetime software licensing model. This sacrifices short term revenues for larger, longer term revenue streams.

We want to re-iterate that our business cannot be looked at on a quarterly basis, as the timing of the launch of new innovative products or the launch of the services in a new customer impacts the results of a particular quarter, which are, on certain occasions not entirely controlled by us. We maintain our guidance that we had given earlier on 2008-09 financial year performance.

During the quarter we also announced the acquisition of 100% stake in Telisma, a leading European Speech Recognition company, for a consideration of 12 Million Euros. Telisma is Europe's leading Speech technology & language processing software provider. Telisma's speech recognition products & expertise will enable us to accelerate our penetration into fast growing emerging markets by developing new speech recognition language models.

Over time, Telisma's advanced technology will be embedded into a significant part of OnMobile's new products and installed product base with existing customers. This process will take two to three years to complete, but will result in a significant enhancement in OnMobile's market position and relationship with large customers. As a result of this we expect a marginal drop in our PAT, in the short run.

Sourced From: Adfactors Public Relations Pvt Ltd