Synchronica reveals first recurring-revenue order for 2012
Mobile messaging specialist Synchronica (LON:SYNC, CVE:SYN) today received a new contract worth US$580,000 with an existing customer.
The contract is an expansion order with a ‘top 5' mobile device manufacturer customer, it said. Synchronica will provide its customer with continued support and product development during 2012 as a result of the deal.
"This is our first recurring-revenue order for 2012, and the fact that it's an expansion deal from a worldwide 'top-5' device manufacturer truly sets Synchronica off to a great start," said chief executive Angus Dent.
"We look forward to further enhancing our recurring revenue profile throughout the new year."
The revenues associated with the order will be recognised during the 2012 financial year. But the customer will pay half of the order value immediately.
"This expansion order demonstrates that Synchronica's solutions continue to be viewed as a key differentiator in the highly competitive handset market," said Simon Taylor, executive vice president for international sales and business development.
He added: "Mobile messaging is a service that is increasingly becoming an absolute 'must-have' on all grades of handsets."
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