MTS Announces Half Year 2019 Financial Results

RA'ANANA, Israel and POWDER SPRINGS, Georgia, Sept. 12, 2019 /PRNewswire/ -- Mer Telemanagement Solutions Ltd. (MTS) (Nasdaq Capital Market: MTSL), a global provider of telecommunications expense management (TEM) and call accounting, today released its financial results for the six months ended June 30, 2019.

The Company recorded revenues of $2.6 million for the six months ended June 30, 2019, compared with $2.9 million for the six months ended June 30, 2018. The Company incurred a net loss of $220,000, or $0.04 per diluted share, for the six months ended June 30, 2019 compared with a net loss of $1 million, or $0.34 per diluted share, for the comparable period in 2018.

Commenting on the results, Mr. Roy Hess, Chief Executive Officer of MTS, said, "Our results in 2019 reflect our efforts to improve our operating margins in light of the business pressures that we face. The telecommunications side of our business continues to be stable as we have maintained a high level of customer satisfaction.

We recently entered the field of Omnichannel Contact Center Software. In June 2019, we introduced Omnis - Contact Center Software with "Out-Of-The-Box" multi-channel capabilities and open channel architecture. This product enables users to connect whenever and however they choose through voice, emails, chat, social media and more. Managing real-time, multi-channel interaction is simple with the Omnis Unified Interface, allowing employees to handle different interactions under one Omnichannel Desktop with real-time visibility into customer information, customer journey and previous interactions. We expect to see first revenues from this new product during the second half of 2019 and consider Omnis - Contact Center Software as our main growth engine. In addition, we continue to explore opportunities for a potential business combination".

About MTS

Mer Telemanagement Solutions Ltd. (MTS) is focused on innovative products and services for enterprises in the area of telecom expense management (TEM) and call accounting. Headquartered in Israel, MTS markets its solutions through wholly-owned subsidiaries in Israel, the U.S and Hong Kong, as well as through distribution channels. For more information please visit the MTS web site: www.mtsint.com.

Certain matters discussed in this news release are forward-looking statements that involve a number of risks and uncertainties including, but not limited to, the Company's ability to achieve  profitable operations, its ability  to continue to operate as a going concern, its ability to continue to meet NASDAQ continued listing requirements,  customer acceptance of new products, the impact of competitive products and pricing, market acceptance, the lengthy sales cycle, proprietary rights of the Company and its competitors, risk of operations in Israel,  general economic conditions and other risk factors detailed in the Company's annual report and other filings with the United States Securities and Exchange Commission.

Contact: 
Ofira Bar, CFO                                   
Tel: +972-9-7777-540

SOURCE Mer Telemanagement Solutions Ltd. (MTS)

Related Links

https://mtsint.com/