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Herndon, VA and Oslo, Norway (PRWEB) February 15, 2012
Apptix? (OSE: APP), a leading provider of hosted business communication and collaboration services, today reported unaudited financial results for the three months and year ended December 31, 2011
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Interim Management Report
fourth quarter results at a glance:
Net income of USD 272 000, fourth floor of the quarter and 685 000 dollars in repairs of the year. EBIT of USD 627 000, quarter over quarter and up 649 000 dollars in repairs of the year.
number of users has increased to 336 000 during the quarter, up from 2% to 8% in the fourth quarter and full year of ‘years. Most new users in Q4 quarter increased by 2% over the quarter, excluding Speedway Reservations are discussed below; churn quarter increased 15% sequentially.
Channel Signed partnership agreement with Insight Enterprises, Inc., a $ 4.8 billion global provider of information technology, MegaPath Corp., end-to-end solution provider of services based national and Cincinnati Bell , Inc., a provider of USD 1.4 billion integrated communications solutions including local, long distance, data, internet, entertainment and services to resell wireless communication and collaboration services Companys in a white-label.
Expanded Speedway, a key healthcare client 2009, with the addition of new structures to improve the user base from 15,000 Speedway and adding archive and compliance services to approximately 5,000 users Speedway. When fully implemented this addition will add approximately $ 700 thousand in annual revenue, an increase of about 2% more than the current level of total income. Main
Company continues to show progress under the new organizational alignment field during the fourth quarter with the addition of three new channels a significant relationship: Insight, MegaPath and Cincinnati Bell, all of which are expected to launch their dealer portal at the end of the first quarter of 2012 and projected to 2012 users bookings more than 100,000 units. In addition, the ordering of new users during the fourth quarter increased 2% from the third quarter, excluding the expansion of the 15,000 users Speedway. Historically, the fourth quarter was flat quarter as a result of the holiday season. Finally, better management and the Companys customers priority routing models, launched in July continued to show an increase, a decrease of 15% in user churn in the fourth quarter, a decrease of 30% in the second half of 2011 over the first half of 2011.
Company out of 2011 made a strong improvement in operating results, an increase of 5% of annual sales, its first full year of positive net income and 15 consecutive quarters of positive EBITDA. Revenues for the fourth quarter and the year of $ 10.3 million and USD 40.7 million, up 2% and 5% respectively. Net income for the fourth quarter and the year amounted to 272 000 USD and USD 703 000, fourth floor of the quarter and increased $ 3.8 million a year. As anticipated, the Company has made a targeted investment in the fourth quarter, operating expenses increased slightly to prepare for the volume increase in 2012 bookings of new channel partner relationships mentioned above.
We are very proud to have achieved and maintained profitability throughout the year, the first in the Companys history. This result is the culmination of many years of hard work and strategic investment to transform Apptix be established leading cloud services market, said David Ehrhardt, President and CEO of Apptix. Building on the success we have refocused our go to market and sales strategy for 2011 to mid-market sector and companies more profitable and the implementation of the strategy first channel. Our channel strategy has begun to produce results with a win as important partner in the Insight, MegaPath, Cincinnati Bell, and Web.com. Moreover, the gains in the mid market and enterprises (which now represent about 45% of turnover) led the absorption expanded our growing portfolio of services, in particular, our voice, and Security & Compliance Services are growing 40% per year. In this way, we believe we enter 2012 well positioned to deliver double-digit growth in revenue in 2012, said Ehrhardt.
Results Fourth Quarter and YTD 2011
Revenues reached USD 10.3 million for the three months ended December 31, 2011, an increase of 2% quarter over quarter and up 4% year over year. The growth in revenues is due to the increase in the number of active users, mainly because of the gains of the users with the middle market and enterprise customers, including the Speedway. Revenue for the twelve months ended December 31, 2011 amounted to USD 40.7 million up 5% over the same period in 2010.
ARPU is USD 14.52 (except Speedway) was down 2% compared to the quarter quarter and year of 4% per year. Year on year decrease is primarily due to price concessions are granted in conjunction with the consolidation efforts of the Companys platform (which was completed in June 2010) and the Companys continuing to focus on the central market, trading volume on the basis of concessions ARPU for customers sticky, the relatively lower cost of acquisition and support, and the potential for wider dissemination of the Companys portfolio of services. Including the impact of the Speedway, ARPU remained stable at $ 10.40.
Operating costs (excluding depreciation and amortization) was EUR 6.8 million during the fourth quarter of 2011, up 5% over the fourth quarter, but down 4% year over year. The increase over the previous quarter due to higher labor and operating expenses incurred in support of the Companys 2012 provides a user growth and higher depreciation expense associated with the third quarter of 2010, the launch of its platform Companys Exchange. Total operating expenses for the twelve months ended December 31, 2011 was USD 26.8 million, down 10% over the same period in 2010. This improvement is mainly determined by operational efficiencies obtained as a result of economies of scale associated with larger user base and Companys platform 2010 consolidation effort.
EBIT for the fourth quarter 2011 was USD 627 000, fourth floor over quarter but an increase of 649 000 dollars a year. EBIT for the twelve months ended December 31, 2011 amounted to USD 2.2 million, compared to a loss of $ 1.4 million in the comparable period of 2010, an increase of $ 3.6 million. The increase was primarily driven by gains in the mid-market revenue contributing a higher contribution margin and operating efficiencies achieved as a result of its 2010 platform consolidation efforts Companys
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net revenues for the fourth quarter of 2011 was USD 272 000 during the quarter and the quarter compared to an average loss of 413 000 dollars in the fourth quarter of 2010, an increase of USD 685 000. Net income of $ 703,000 for the twelve months ended December 31, 2011, compared to a net loss of $ 3.1 million in the comparable period of 2010, an increase of $ 3.8 million. As mentioned above, the improvement in the earnings is the result of increased income, especially in the mid-market and operational efficiency.
Cash generated from operating activities, including the impact of changes in exchange rates, equal to $ 1.1 million in the fourth quarter of 2011 compared to 624 000 USD in the third quarter of 2011 and $ 743,000 during the quarter quarter of 2010. For the twelve months of 2011, cash generated from operating activities, including the impact of changes in exchange rates, equal to $ 3.7 million, more than the previous year’s level of $ 1.2 million due to increases Companys net operating results. <
