N@N

Synchronica Publishes its Annual Report and Accounts for the 2010 Financial Year

^{Published on 2011-05-18 23:20:36 - Market Wire}
 

ROYAL TUNBRIDGE WELLS, UK, May 19 /CNW/ - Synchronica plc ("Synchronica" or "the company") (AIM: SYNC) (TSXV: SYN), the international provider of next-generation mobile messaging infrastructure, is pleased to announce that it has published its Annual Report and Accounts for the financial year ended 31 December 2010.

The report is available to download immediately from the Company's website: [ www.synchronica.com/investors ]

During 2010, Synchronica dramatically expanded its market share and recorded substantial contract wins, as well as a significant rise in recurring revenue streams.

Highlights:

• 85% increase in revenue from US $5.9m in 2009 to US $10.9m in 2010.
• 82% increase in gross profits to US $10.4m from US $5.7m in 2009.
• EBITDA loss decreased by 65% to US $0.8m from US $2.9m in 2009.
• 83 mobile operators and eight device manufacturers in customer base, compared to 21 operators and one manufacturer at the end of 2009.
• the Company's directly addressable market at the end of 2010 amounted to 1.3 billion users, a more than fourfold increase over 300 million in 2009.
• Completed the acquisition of iseemedia Inc. and the Instant Messaging business of Colibria AS.
• Listed on TSX Venture Exchange.

Synchronica's Annual Report and Accounts also offers a wealth of information on analyses, case studies and statistics from the messaging sector and the mobile industry as a whole. It provides valuable insight into the key trends occurring worldwide, including unique perspectives on our high-growth emerging markets, and Synchronica's broadening reach into developed markets.

About Synchronica

Synchronica plc is a leading developer of next-generation mobile messaging solutions. Mobile Gateway, Synchronica's flagship product, provides push email, synchronization, instant messaging (IM), and social networking services to any mobile phone currently in use. Synchronica's patented transcoding engine uses advanced streaming to download email attachments and can dramatically reduce the consumption of network bandwidth by as much as 90 percent.

Mobile operators and device manufacturers from emerging and developed markets rely on Synchronica's white-labelled product for providing mass market messaging services across the entire customer base, diversifying revenues and reducing churn.

Headquartered in England, Synchronica also maintains a development centre in Germany and the Philippines in addition to a regional presence in Canada, the USA, Hong Kong, Spain, and Dubai. Synchronica plc is a public company traded on the AIM list of the London Stock Exchange (SYNC) and the Venture Exchange of the Toronto Stock Exchange (SYN). For further information, please visit [ www.synchronica.com ]

Cautionary Statements

The foregoing information may contain forward-looking statements relating to the future performance of Synchronica plc. Forward-looking statements, specifically those concerning future performance or results, are subject to certain risks and uncertainties, and actual results may differ materially from Synchronica's plans and expectations. These plans, expectations, risks and uncertainties are detailed herein and from time to time in the public filings and announcements made by Synchronica, including those made with AIM, a market of the London Stock Exchange, with the TSX Venture Exchange or with securities regulators.  Synchronica does not assume any obligation to update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.   No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained herein.