Last checked at 23 Jul 2010 07:00
For Immediate Release July 23, 2010
Velti Plc
("Velti" or the "Company")
Trading update - Six months ended 30 June 2010
Velti plc ('Velti' or 'the Company'), a leading mobile marketing and advertising technology provider for brands, advertising agencies, mobile operators and media, announces the following trading update ahead of the publication of financial results for the six months ended 30 June 2010.
Key performance drivers for the first half of 2010
Velti continues to experience increasing demand for its products and services from existing and new customers and expects to report total revenues in excess of $40 million for the first six months of 2010. The strong financial performance over this period reflects a combination of:
o Increasing revenuegrowth due to the popularity of Velti's performance-based solutions and success of our Software-as-a-Service (SaaS) model;
o Contract wins with key brands such as SuperMedia, Levi's, Ford, American Express, Sony, Cervarix, Qantas, Nationwide, Mastercard, Royal Caribbean, Campbell Soup, Microsoft, Visa, Kinder, Armani Exchange and GSK, as well as advertising agencies such as Ogilvy & Mather and DraftFCB;
o Key new engagements with major operator customers including Orange, Vodafone, OTH, Zain, MTS and Movistar, along with new engagements from new customers O2 (Slovakia), EtiSalat (Africa), Claro (Nordics) and Glo (Nigeria);
o Noteworthy new engagements with publishers and media companies including Adssets (Nordic Countries), Daily Mail (UK) and Neulion (USA);
o Completion of Velti's acquisition of Media Cannon, Inc., a developer of mobile advertising tools and technology. The acquisition brings Velti new strategic customers including Tier-1 wireless carriers and additional premier advertising agencies and brands that were not already customers of Velti;
o Continued global roll-out of Velti mGage and launch of mGage 8.0. This is the first fully unified version of the mGage platform, giving reseller customers such as DraftFCB far easier access to a wide range of mobile capabilities; and
o Velti launched its mobile developer program which includes APIs and software developer kits ('SDKs') that support devices including Apple's iPhone and iPad, as well as operating systems including Google's Android. Early customers include UK publisher Sky and mobile platform provider Azuki whose client, Sports Illustrated, leveraged Velti's iPhone SDK to create its SI 2010 Swimsuit app.
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For further information, please contact:
|
Bankside Consultants Simon Bloomfield simon.bloomfield@bankside.com +44 (0) 207 367 8861
The Blueshirt Group Mike Bishop mike@blueshirtgroup.com +1 (415) 217 4968
RBC Capital Markets (NOMAD and Broker) Joshua Critchley Matthew Coakes Brett Jacobs +44 (0) 207 653 4000 |
Velti plc Alex Moukas Chief Executive Officer +1 (415) 315 3400
Wilson Cheung Chief Financial Officer +1 (415) 315 3480
Barbara Cassidy Director, Global Marketing Communications bcassidy@velti.com +1 (415) 315 3448 |
About Velti
Velti is a provider of mobile marketing and advertising solutions that enable brands, advertising agencies, mobile operators and media to implement campaigns by communicating with and engaging consumers via their mobile devices. Velti is a publicly-held corporation based in Jersey and trades on the London Stock Exchange's AIM under the symbol VEL.