|
|
| . | Corporate Info |
 |
SINGAPORE, 13 May 2008 – Mainboard-listed MediaRing Ltd (“MediaRing” or the “Group”), a one-stop premier Internet Protocol (“IP”) communications provider of Voice, Data and Infrastructure services in the Asia Pacific, today announced its first quarterly results. For the quarter ended 31 March 2008 (“Q1 FY08”), the Group recorded a turnover of US$35.3 million, a growth of 39.5% over the corresponding quarter last year (“Q1 FY07”). Net profit for the quarter grew by 84.1% to US$0.9 million. The 39.5 % revenue growth in Q1 FY08 over Q1 FY07 was due to the overall growth in all the business segments, and as well as the impact of consolidating Cavu results ( see note 2 below ). Said MediaRing’s CEO, Mr Khaw Kheng Joo on the Group’s Q1 results, “Q1 FY08 was a good quarter for MediaRing with growth in our main business segments. While our Voice traffic grew 18.4%, I am heartened to note that our Data and Infrastructure Services segment now accounts for 28.6% of total revenue for Q1 FY08, up from the 5% revenue contribution in Q1 FY07. The acquisition of Cavu has certainly been positive.” Based on the latest results, earnings per share (“EPS”), based on the weighted average number of ordinary shares, was 0.07 US cents per share, up from 0.04 US cents. Net assets per share, based on the issued and fully paid up share capital, increased by 2.6% to 7.78 US cents, from 7.58 US cents as at 31 December 2007. Outlook Looking ahead, MediaRing remains committed to being a one-stop premier IP communications provider of Voice, Data and Infrastructure services in the region. Said Mr Khaw, “MediaRing is redefining communications and evolving to meet and exceed the IT communications needs of the next generation. Given our integrated Voice, Data and Infrastructure capabilities, we are well-positioned to provide customers with all that they require for their IT infrastructure and IP communications needs.” MediaRing’s strategy for 2008 is to defend and grow our existing markets while expanding into new ones. The Group will continue to actively seek opportunities to expand its operations in Asia through acquisitions and partnerships and will, at the same time, be diligent of the changing regulations in the countries that use its services. “At the end of the day, our primary objective is to deliver and enhance long-term value to our shareholders through the establishment of a business model that is scalable and sustainable. I believe that our past strategic acquisitions, Cavu included, have brought us closer to our goal,” said Mr Khaw. Note 1. Since FY2007, MediaRing re-classified its business segments into Voice Services, which includes PC-to-Phone, MediaRing Talk and Enterprise Solutions; and Data and Infrastructure Services, to reflect the business nature of its subsidiaries. 2. Cavu Corp Pte Limited was acquired in October 2007 and made a significant contribution to the Q1 FY 08 consolidated results. About MediaRing Contact Information: Singapore :
|
 |
