Numerex Breaks One Million Subscriber Mark in 2011 First Quarter
[Satellite TODAY 04-29-11] Satellite machine-to-machine (M2M) solutions provider Numerex Corp. produced a 25 percent, year-over-year growth in subscriptions during its 2011 first quarter, breaking the one million mark at 1,224,000 subscribers, the company announced in its latest results issued April 28.
By the end of March, the company added 53,000 net subscriptions, as compared with 40,000 net subscriptions added in the first quarter of 2010. The subscription boost contributed to increased consolidated revenues of $13.8 million compared with $13 million in the first quarter of 2010. Numerex’s reported service revenues of $9.2 million and hardware revenues of $4.6 million compared with $8.2 million in service revenues and $4.8 million in hardware revenues, respectively, during the same period last year.
"Numerex is poised to benefit from the commercialization of key projects, recently forged alliances with M2M industry leaders, and new product launches. We continue to invest in our Business Solutions client programs with new hires and state-of-the-art infrastructure required to meet anticipated demand from wireless operators and global enterprise groups," Numerex Chairman and CEO Stratton Nicolaides said in a statement.