Net Element, Inc. (NETE)

[NetworkNewsWire]

NETE Reports FY2016 Financial Results

Mobile payment technology company Net Element, Inc. (NASDAQ: NETE) recently issued a news release reporting its financial results for the fiscal year ended December 31, 2016. Among the highlights, Net Element’s total U.S. dollar volume processed for the 12-month period was up roughly 40 percent year-over-year to $2.45 billion. Likewise, the company’s revenue total of $54.3 million marked an increase of 35 percent from the previous year. “I am pleased to say that 2016 was a successful year for Net Element,” Oleg Firer, CEO of Net Element, stated in the news release. “Our achievements provided growth, and positioned us for continued success as we continue to expand our global transaction services in the United States and select international markets.” Net Element’s management team hosted a conference call to discuss these results before the opening bell on Monday. A recorded replay of the call will be made available to interested parties via the investor relations section of the company’s website.

To view the full press release, visit http://nnw.fm/aGx2O

About Net Element

Net Element, Inc. (NASDAQ: NETE) operates a payments-as-a-service transactional and value-added services platform for small to medium enterprise (“SME”) in the US, Russian Federation and other international markets. In the US it aims to grow transactional revenue by innovating SME productivity services such as its cloud based, restaurant point-of-sale solution Aptito. Internationally, Net Element’s strategy is to leverage its omni-channel platform to deliver flexible offerings to emerging markets with diverse banking, regulatory and demographic conditions such as UAE, Kazakhstan, India and Latin America where initiatives have been recently launched. It maintains offices in Miami, FL and in Russia. Further information is available at www.netelement.com.