Posts Tagged ‘telecom stocks’

RiT Technologies Ltd. (RITT) rises on news of expansion in Africa

Tuesday, December 6th, 2011

Shares of communications network solutions provider RiT Technologies Ltd. (RITT) rose as much as 47 percent from Monday’s closing price in morning trading on Tuesday. RITT touched a high of $4.75 on Tuesday morning, up from Monday’s closing price of $3.22.

On Tuesday, the Tel Aviv-based RiT Technologies announced that it appointed Peter Leonard to become its Country Sales Manager for South Africa. According to a December 6 press release, RiT’s has built momentum in the region over the past year, beginning with sales to Botswana Teclecommunications Corp. and Vodafone Ghana, and followed by the signing of distribution/marketing agreements with Kenya’s Adwest communications, Mart Network Solutions/Giganet Networking Solutions and Adcare.

RiT Technologies’ president and CEO, Eran Ayzik commented that Africa is a “land in transformation, and a key enabler of change is the ongoing overhaul of its communications and IT networks.”

The company has also increased its presence in China, opening a new office in Shanghai several months ago as part of its strategic focus on the Chinese market.

“The establishment of our second office in Chinademonstrates the success of our strategy to build our business in this rapidly-growing market with high potential for IIM sales,” Ayzik said in a September 13 press release.  “Our unique approach to the market, including our partnership with superbly qualified, well-connected integrators and the offering of customized solutions, has started to pay off, and we believe thatChina will continue growing in importance as a driver of our future sales.”

For the third quarter ended September 30, RiT Technologies reported revenue of $3.7 million, a 38 percent increase over revenue of $2.7 million in the same period a year ago, and a 7 percent sequential increase over the second quarter. The company’s third quarter net loss increased 1 percent to $854,000 or 19 cents per share, compared to a net loss of $843,000 or 26 cents per share for the third quarter of 2010.

“Our third quarter results reflect continued strong momentum in the areas of product development, partnership building and marketing & sales, all of which are creating a solid platform for future growth,” Ayzik said in an October 26 press release. ” Our efforts to broaden our sales and marketing activities are raising RiT’s exposure in emerging markets and enabling us to better serve our customers. This was highlighted during the quarter by our opening of a second sales office in China. And we intend to duplicate this effort in other high growth, emerging regions.”Parallel to our marketing activities, we continue to develop our product portfolio, improve our supply chain and deepen our strategic partnerships in order to well-position the Company for further growth.”

Shares of RITT are down about 6 percent in the past three months.

Linktone Ltd. (LTON) – Buzz Stock of the Day

Wednesday, December 1st, 2010

Shares of Chinese telecom services provider, Linktone Ltd. (Nasdaq: LTON) were up as much as 43 percent from Tuesday’s closing price in morning trading on Wednesday after the company announced a 43 percent increase in third quarter revenue, compared to the same period last year.

For the quarter ended September 30, 2010, Linktone reported gross revenues of $19.8 million, a 17 percent sequential increase compared with$16.9 million in the second quarter of 2010, and 43 percent year-over-year growth compared with $13.8 million in the third quarter of 2009. Gross profit for the quarter was $6.9 million, up 33 percent from $5.2 million in gross profit in the same quarter a year ago. Operating income in the quarter increased to $1.0 million, compared with a  loss of $0.1 million for the third quarter of 2009. Non-GAAP net income was $0.7 million or $0.02 per ADS, compared to $0.4 million or $0.01 per ADS in the third quarter of 2009.

“As a result of effective marketing initiatives and our efforts to differentiate our services during the highly competitive season of summer school vacation, we achieved another strong quarter, with revenue from all segments of VAS data-related services, audio-related services and sales of licensed edutainment andNon-GAAP net income was $0.7 million or $0.02 per ADS, compared to $0.4 million or $0.01 per ADS in the third quarter of 2009. entertainment products achieved sequential growth,” said Linktone’s Chief Executive Officer Hary Tanoesoedibjo in a statement. “Our healthy cash balance remains a valuable asset as we continue to assess opportunities for growth, expansion and diversification.”

For the fourth quarter ending December 31, 2010, Linktone expects gross revenues to be in the range of $20.0 million to $21.0 million including revenue from its value-added services, distribution of licensed products and other services.

Linktone is one of the leading providers of wireless interactive entertainment services to consumers in China and Southeast Asia.  Linktone provides a diverse portfolio of services to wireless consumers and corporate customers, with a particular focus on media, entertainment, communications and edutainment.

Shares of Linktone Ltd. are up about 36 percent over the past three months.

Motricity, Inc. (MOTR) – Buzz Stock of the Day

Wednesday, October 13th, 2010

Shares of mobile data services provider, Motricity, Inc. (Nasdaq: MOTR) soared as much as 22 percent from Tuesday’s closing price, in morning trading on Wednesday. This marks the second day Motricity shares rose,  after the company announced through a regulatory filing, that it signed an agreement to roll out its mCore service with Indian wireless carrier Reliance Communications Ltd.

Motricity was up as much as 40 percent from Monday’s closing price, on Tuesday.
Motricity said the service, which lets wireless carriers get their users onto the Internet via mobile devices such as cell phones, will be used for Reliance’s mobile data services business.

At the time Motricity filed its IPO in January, the company had already generated more than $100 million in revenue in 2008. And although it was not yet profitable, was expecting to raise as much as $250 million from investors in its IPO. Ultimately, Motricity ended up settling on a much lower $50 million to close the deal.

Motricity trimmed its 2009 net loss to $16 million, down from $78 million in 2008. Revenue for 2009 clocked in at $113 million.

Although the company did not disclose financial terms of the Reliance deal, Baird analyst William V. Power called the deal “significant.”

“While the overall revenue opportunity is lower in India vs. developed markets, we expect that to change as data penetration improves,” he wrote in a note to investors.

Using Vodafone India as a proxy, Power estimated that the deal could add $15.2 million to $30.8 million to Motricity’s annual revenue.

Penny Buzz Stocks to Watch on 6/29: VIDA, ECRY, GOIG

Tuesday, June 29th, 2010

For all you penny stock traders, here are a few penny Buzz Stocks we’re watching today:

Vidaroo Corp. (OTCBB: VIDA): Vidaroo announced that the company was selected by country music artist Keith Urban to provide creative visual elements and video production for the Summer Lovin’ 2010 Tour. Several newsletters also promoting the company. Vidaroo Corporation is a video technology company that provides the best-in-breed Online Video Platform, video production and advertising on its Online Video Network that reaches over 10 million visitors monthly. Shares up 88 percent from Monday’s close.

eCrypt Technologies, Inc. (OTCBB: ECRY): Shares up 5 percent after the company announced positive feedback from their participation in the F5 Expo held in Vancouver, BC on April 7, 2010. According to data from the F5 Expo, eCrypt Technologies, Inc. received the greatest amount of public interest at the conference. These finding are based on the number of voluntary video testimonials the Company received at the F5 media centre. eCrypt Technologies, Inc. is an information security firm with a focus on the wireless industry. The company’s flagship product “eCrypt” is a first-of-its-kind encryption software for wireless email on BlackBerry® smartphones, and is available under a perpetual license or on a pay-per-use basis.

GoIP Global, Inc. (Pink Sheets: GOIG): Shares up 5 percent today after the company announced that it would receive $5 million in funding from Chinese industrialist, Yidong Fu in return for restricted common shares of the company’s stock. The funds are expected to be used to further GoIP’s GO800’s marketing efforts in USA/Canada, establish a GO800 subsidiary in China, and to launch GO800 in China in 2011.

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IDT Corp. (IDT) – Buzz Stock of the Day

Monday, June 28th, 2010

Telecom and oil are an unlikely pair. But for IDT Corp. (NYSE: IDT). which specializes in telecom services and oil exploration, the combination has worked well. Shares of IDT Corp. were up 13 percent from Friday’s close, likely because of a new CNBC interview with the company’s founder, chairman and CEO, Howard Jonas that outlined the company’s oil shale venture in Colorado (below).

IDT’s shale operation focuses on heating shale rock and extracting oil. “So we can bring this up without any environmental consequence,” said Jonas. “The problem in Colorado up to now was that there were aquifers that run through the rock. So what we did was find a way to go down into the clay level.”

IDT’s energy business, Genie Energy, holds IDT’s interests in the American Shale Oil, LLC (AMSO), a joint oil shale research and development venture in Colorado with Total, S.A.; and in Israel Energy Initiatives (IEI), which holds an exclusive shale oil exploration and production license in the Shfela region of Israel.

According to Jonas, it costs the company about $25 per barrel to extract the oil from shale rock, which is about $10 cheaper than ultra-deep water fuel extraction — the kind of extraction that was being used by British Petroleum (NYSE: BP) in the Gulf of Mexico.

Shares of IDT Corp. are up about 57 percent over the past three months.