ATLANTA, Jan. 7 /PRNewswire-FirstCall/ -- Numerex Corp. (Nasdaq: NMRX), a leading single source provider of secure machine-to-machine (M2M) products and services, today announced that its Chief Executive Officer, Stratton Nicolaides, will be presenting at the Sidoti & Company Micro Cap Conference being held at the Grand Hyatt in New York City.
The Numerex presentation is scheduled to occur on Monday, January 11, 2010, at 9:10 a.m. Eastern Time. Management will be participating in one-on-one meetings the day of the presentation. There are no webcasting capabilities being arranged for the Sidoti conference.
Additionally, Numerex affirms its previously released guidance and announces preliminary revenues and M2M subscription results for the quarter ended December 31, 2009.
- During the fourth quarter, the Company added approximately 90,000 digital subscriptions, bringing its M2M subscription base to more than 940,000 at the end of 2009.
- The Company reiterates its expectation that service revenues will be in the range of $8.2 million to $8.5 million for the fourth quarter, and believes that total revenues will be in the upper end, or exceed, the previous guidance range of $13.0 to $13.5 million.
- The Company is expected to report over $5 million in cash and only $500,000 in structured debt when fourth quarter and full year 2009 results are completed. The Company expects to retire the balance of its structured debt later this month.
All of the financial results described in this press release should be considered preliminary and are subject to change to reflect any adjustments that are identified during preparation of its 2009 audited financial statements to be filed in its Annual Report on Form 10-K for the year ended December 31, 2009.
Stratton Nicolaides, chairman and CEO of Numerex Corp. stated, "The Company's M2M subscription growth last year fell in line with our expectations and is once again expected to grow between 30 and 40% in 2010. We are pleased with the improving trends in the M2M space and in the vertical markets we address. We are confident that our financial and operating performance will improve over the course of the year reflecting increased activity from recent customer wins, newly forged carrier alliances, improved traction in recent product launches, and a generally improved economic environment."
Numerex will report its earnings for the fourth quarter and year-end of 2009 on February 25th, 2010 before the opening of the stock market. Management will hold a conference call at 9:00 a.m. ET that day to discuss the results. Conference call access information will be provided on the company's web site, www.numerex.com.
Numerex Corp. (Nasdaq: NMRX) is the single source machine-to-machine (M2M) product and service provider to some of the world's largest organizations delivering the foundational components of device, network, and application, used by its customers in the development of their M2M solutions. Customers typically subscribe to Numerex network and application services that are delivered through its hosted platforms. The Company's offerings and expertise enable its customers to efficiently build reliable and secure solutions that are used to monitor and manage assets remotely whenever and wherever needed, while simplifying and speeding up development and deployment. Numerex DNA(TM) offerings include hardware Devices, Network services, and software Applications that are delivered through its Numerex FAST(TM) (Foundation Application Software Technology) platform. Numerex is the first M2M service provider in North America to carry the ISO 27001 information security certification. "Machines Trust Us(TM)" represents the Company's focus on M2M data security, service reliability, and round-the-clock support of its customers' M2M solutions. For additional information, please visit www.numerex.com.
This press release contains, and other statements may contain, forward-looking statements with respect to Numerex's future financial or business performance (including subscription growth and revenue expectations), conditions or strategies and other financial and business matters, including expectations regarding growth trends and activities in the wireless data business. Forward-looking statements are typically identified by words or phrases such as "believe," "expect," "anticipate," "intend," "estimate," "assume," "strategy," "plan," "outlook," "outcome," "continue," "remain," "trend," and variations of such words and similar expressions, or future or conditional verbs such as "will," "would," "should," "could," "may," or similar expressions. Numerex cautions that these forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time, including being subject to the completion of our fiscal 2009 audit. These forward-looking statements speak only as of the date of this press release, and we assume no duty to update forward-looking statements. Actual results could differ materially from those anticipated in these forward-looking statements and future results could differ materially from historical performance.
The following factors, among others, could cause actual results to differ materially from forward-looking statements or historical performance: our inability to reposition our platform to capture greater recurring service revenues; the risks that a substantial portion of Orbit One's revenues are derived from government contracts that may be terminated by the government at any time; variations in quarterly operating results; delays in the development, introduction, integration and marketing of new wireless services; customer acceptance of services; economic conditions resulting in decreased demand for our products and services; the risk that our strategic alliances and partnerships will not yield substantial revenues; changes in financial and capital markets; the inability to attain revenue and earnings growth in our wireless data business; changes in interest rates; inflation; the introduction, withdrawal, success and timing of business initiatives and strategies; competitive conditions; the inability to realize revenue enhancements; and extent and timing of technological changes. Numerex SEC reports identify additional factors that can affect forward-looking statements.
Numerex Corp. Contact: Alan Catherall 770 485-2527 Investor Relations Contact: Seth Potter 646 277-1230
SOURCE Numerex Corp.