Numerex Breaks 2011 End-Year M2M Subscription Growth Forecast
[Satellite TODAY 01-10-12] Machine-to-machine (M2M) solutions provider Numerex added approximately 85,000 M2M subscriptions to its customer base to reach more than 1.43 million at the end of its 2011 fourth fiscal quarter, according to the company’s preliminary financial results issued Jan. 9.
Numerex Chairman and CEO Stratton Nicolaides said his company’s 2011 full-year subscription growth was at the higher end of its range of expectations and was driven by strong demand from channel partners in the latter half of last year.
“We believe that this trend will continue and, as a result, we expect to grow our M2M subscription base between 23 percent and 28 percent in 2012,” Nicolaides said in a statement. “This growth in subscriptions will drive additional 2012 M2M recurring revenues, which we anticipate will increase by 18 percent to 23 percent over the previous year.”