|Augme Technologies Expects to Report Record Fourth Quarter Revenue of Approximately $5.1 Million|
Total Backlog Reached Approximately $15.6 Million at Fiscal Year-End; Fiscal 2012 Revenue Totals Approximately $12.0 Million
...expects to report revenue of approximately $5.1 million for the fourth quarter of fiscal 2012 ended February 29, 2012, based on a preliminary review of results. This represents a sequential increase of approximately 15% relative to revenue of $4.43 million in the third quarter ended November 30, 2011.
Revenue for the fourth quarter of fiscal 2011 ended February 28, 2011 did not include results for Hipcricket, Inc. which Augme acquired on August 25, 2011. For that period, the Company reported revenue of $0.96 million.
Total backlog, or the dollar value of signed contracts, was approximately $15.6 million at February 29, 2012 compared to $13.1 million at November 30, 2011, the end of the third fiscal quarter, representing a 19% increase.
New order bookings, or the dollar value of contracts signed during the quarter, totaled approximately $6.5 million for the fourth quarter compared to $5.3 million for the third quarter ended November 30, 2011. New bookings from existing customers accounted for 67% of total new order bookings during the fourth quarter and 33% resulted from new order bookings from new customers.
"Adoption of Augme's Hipcricket brand continued in the fourth quarter. Our focus on adding new customers while increasing revenue per customer through deeper penetration of existing customers' brand portfolios produced a $1.2 million, or 23%, increase in new order bookings to approximately $6.5 million for the fourth quarter," said Paul Arena, Chief Executive Officer of Augme Technologies, Inc. "While new order bookings continue to increase, some of the contracts shifted towards a longer duration. That shift has pushed out the timing of revenue recognition and as a result, we recognized less revenue than we had expected for fiscal 2012. With our backlog now totaling approximately $15.6 million and the mobile marketing and advertising industry on a rapid growth trajectory, we are continuing to scale our business."