Shares of Israel-based business support systems provider MER Telemanagement Solutions Ltd. (Nasdaq: MTSL) soared as much as 77 percent from Thursday’s closing price in morning trading on Friday after the company announced improved results for the second quarter of 2012 over the same period last year.
MTSL hit an intraday high of $2.84 per share on Friday, up from Thursday’s closing price of $1.60.
Revenue for the second quarter was $3.3 million, up from $3 million in the same period a year ago. Operating income from the quarter skyrocketed to $517,000, a 170 percent improvement over operating profit of $191,000 for the same quarter a year earlier. Net income improved to $460,000, or 10 cents per share, up from $229,000 or 5 cents per share in the second quarter of 2011.
“Our second quarter results represent continued improvements in our financial results and indicators as a result of our efforts to develop our Telecom Expense Management opportunities through partners, new customer acquisitions and expanding our existing customer base,” said Eytan Bar, CEO of MTS in an August 16 press release. “In addition, our company’s Billing and Mobile Virtual Network Operator (MVNO) activity as a managed service has grown and we were able to sign an additional managed service agreement with a new MVNO in the U.S. and we see other opportunities in this market. We are looking forward to improving both our top and bottom line performance.”
Shares of MTSL are up more than 50 percent over the past three months.