Notify Technology Reports Results for the Third Fiscal Quarter Ended June 30, 2012

SAN JOSE, Calif., Aug. 17, 2012 /PRNewswire/ -- Notify Technology Corporation (NTFY.PK) today announced financial results for its third fiscal quarter ended June 30, 2012.

Total fiscal third quarter revenue decreased to $1,452,985 in the three-month period ended June 30, 2012 from $1,643,820 during the same period in the prior year.  The net loss for the three month period ended June 30, 2012 was $95,556 or $1.35 per diluted share. The company's financial performance was improved from a net loss of $195,715 or $2.77 per diluted share, reported for the same period in the prior year. The improvement in net income for the fiscal quarter reflects the combined impact of a decline in sales of the NotifyLink product line offset by reductions in headcount and spending.  Despite the reductions in spending, the Company continued its investment in developing the new mobile device management product line, NotifyMDM. 

"We took steps in March 2012 to streamline our operations while still maintaining our ability to service our existing customers and continue investing our NotifyMDM product.  We believe the success of NotifyMDM is critical to the Company's long term success," said Paul DePond, President and Chief Executive Officer of the company. "We continue to build relationships with OEM and reseller partners for NotifyMDM.  A particular focus will be providing companies of all sizes a solution for their current or future Bring Your Own Device ("BYOD") initiatives.  BYOD refers to the growing trend of companies allowing employee owned mobile devices to be used at work." 

Sales and Marketing expenses were $414,692 in the three-month period ended June 30, 2012 compared to $642,613 in the three-month period ended June 30, 2011.  The decrease in spending was the result of reductions in our direct sales force and a reduction in related sales costs.

Research and Development expenses were $717,138 in the three-month period ended June 30, 2012 compared to $798,786 in the three-month period ended June 30, 2011.  The decrease was due to minor headcount reductions in our test department.  Our commitment to product development remains a critical objective as we continue to invest in our NotifyMDM product to meet the demands of a rapidly expanding smart phone and tablet market. 

General and Administrative expenses decreased to $403,371 in the three-month period ended June 30, 2012 compared to $401,948 for the three-month period ended June 30, 2011.  Although we have reduced compensation costs, we incurred increased legal costs related to the reduction in force in March 2012.

About Notify Technology Corporation

Founded in 1994, Notify Technology Corporation is an independent software vendor (ISV) who has specialized in wireless mobility solutions and services for the past 11 years. Notify's products including NotifyLink, NotifySync and NotifyMDM support all major smart phone and tablet platforms independent of wireless carrier or network.  Notify sells its mobility products directly and through authorized resellers internationally. Notify is an official Apple iOS Enterprise Development Partner, Android Development Partner, BlackBerry Development Partner, Windows Mobile and Windows Phone Development Partner, and Symbian Alliance Member. The Company is headquartered in San Jose, California with product development and technical support located in Canfield, Ohio. For more information, visit http://www.notifycorp.com or contact 408-777-7930.

Contacts:
At Notify Technology Corporation:
Jerry Rice, Chief Financial Officer
Phone: 408-777-7927
[email protected]

(Financial Tables Follow)

SOURCE Notify Technology Corporation