SITO Mobile Ltd (STTO)

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WHAT A LAME EXCUSE!!

SITO Mobile Announces Preliminary Media Placement Revenue Results for 4th Quarter

JERSEY CITY, N.J., Jan. 03, 2017 (GLOBE NEWSWIRE) -- SITO Mobile Ltd. (NASDAQ:SITO), a leading mobile engagement platform provider, announced today that preliminary media placement revenue for the quarter ending December 31, 2016, is expected to be in the range of $7.3 -$7.6 million. SITO is scheduled to report its 4th quarter and full year results on March 28, 2017.

SITO Mobile’s 4th quarter was negatively affected this year by restrained advertising spending during a period of heightened and elongated media focus on this year’s U.S. election.

Commenting on the quarter, Jerry Hug, SITO Mobile’s CEO, said, “We are disappointed that Q4 ad revenue fell below our expectations after a very good year overall. We clearly underestimated the effects of this year’s election on our clients’ campaign spending. Leading into the quarter, we saw seemingly normal activity levels and then revenue dropped off dramatically during the election window. Revenue and bookings activity picked back up again in December. We continue to win new business and retain our valued customer relationships by leveraging SITO’s effective and efficient location-based targeting in combination with fully transparent, real-time insights into marketers’ campaigns. Additionally, we look forward to introducing syndicated recurring data deals in 2017 to mitigate the variability of our financial performance.”

About SITO Mobile Ltd.

SITO Mobile provides a mobile engagement platform that enables brands to increase awareness, loyalty and ultimately sales. For more information, visit www.sitomobile.com.