Synchronoss Technologies Inc (SNCR)

[bowonwing]

EPS in-line, beats on revs (SNCR) 13.27 -0.03 : Reports Q2 (Jun) earnings of $0.12 per share, excluding non-recurring items, in-line with the First Call consensus of $0.12; revenues rose 25.9% year/year to $30.6 mln vs the $30.2 mln consensus. "During the second quarter of 2009, our gross margin expanded by several percentage points (to 52%) compared to last quarter, predominantly due to the mix of transactions in the quarter. We continue to expect gross margins in the low 50% range for the full year of 2009 as a result of the growing number of early stage programs we are on-boarding, as well as new opportunities we are pursuing. We expect to leverage these up-front investments and improve margins over time, as we have demonstrated in the past."