Friday, February 20, 2009 1:21:13 AM
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SNCR 10.20 -0.92
The company provides transaction management software for communications companies.
Synchronoss earned $2.7 million, or 9 cents per share, down 60 percent from a profit of $6.6 million, or 20 cents per share, in the same period a year earlier. Adjusted earnings were 12 cents per share in the latest quarter.
Revenue fell 14 percent to $31.2 million from $36.4 million.
Analysts, on average, were expecting a profit of 10 cents per share on sales of $30.5 million, according to a poll by Thomson Reuters.
"We were pleased with the company's strong profitability in the fourth quarter, and we will continue to manage the business with tight cost controls," said Lawrence R. Irving, chief financial officer and treasurer, in a statement.
Synchronoss, whose largest customer is AT&T, said it recently signed a new three-year deal with the company. AT&T represented 64 percent of the quarter's revenue.
For the full year, the company earned $11.9 million, or 37 cents per share, down from a profit of $23.8 million, or 71 cents per share, a year earlier.
Revenue dropped to $111 million from $123.5 million.
Recent SNCR News
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/28/2024 01:30:49 AM
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- Form SC 13D/A - General Statement of Acquisition of Beneficial Ownership: [Amend] • Edgar (US Regulatory) • 08/21/2024 09:15:01 PM
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- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 03/08/2024 01:23:13 AM
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