SITO Mobile Reports Preliminary First Quarter Financial Results
Reschedules First Quarter Results Release and Conference Call for Wednesday, May 3, 2017
JERSEY CITY, N.J., April 27, 2017 (GLOBE NEWSWIRE) -- SITO Mobile Ltd. (NASDAQ:SITO), a leading mobile engagement platform, today announced unaudited preliminary results for the first quarter ended March 31, 2017 and also announced that it will postpone reporting its full financial results and holding its earnings conference call until Wednesday, May 3, 2017.
First Quarter Preliminary Results Highlights
• TOTAL REVENUE: For Q1 in the range of $6.6 million - $6.7 million.
• GROSS PROFIT: In the range of $3.4 million - $3.5 million.
• GROSS MARGIN: In the range of 51%-53%.
• OPERATING EXPENSES: In the range of $5.7 million - $5.9 million including;
Sales and marketing of $3.5 million-$3.6 million,
General and administrative in the range of $1.5 million - $1.6 million,
Extraordinary professional fees of approximately $650,000,
Depreciation and amortization of approximately $160,000.
• INTEREST EXPENSE: Approximately $400,000.
"SITO Mobile’s 33% year-over-year growth in first-quarter revenue represented a solid start for the year,” said Rory O’Connell, Interim CEO of SITO Mobile. “We are growing our customer base, campaign volume and ad dollars. We are expanding in a number of existing vertical markets including retail, automotive and consumer products and we are also growing in entertainment, tourism and state and local government. We believe this solid foundation and strong momentum will enable us to produce strong year-over-year and sequential growth in the second quarter.”
The Company also noted it will provide second quarter revenue guidance on the upcoming call.
New conference call details will be provided in a separate release.
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.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of the safe harbor provisions of the U.S. Private Securities
