MINDEN, Nev., Aug. 9, 2011 /PRNewswire/ -- Spare Backup, Inc. (OTCBB: SPBU) the developers of white label online backup services for mobile phones, PCs and handheld devices, today said that it was comfortable with projections issued by Leonard Bogner, President of Bogner Business Associates LLC, in his report on the company. The report can be found in its entirety at http://www.corporateprofile.com
In the report, Bogner concludes that "momentum is finally building at Spare Backup". He reports that after a delay in the various launches of programs by Spare Backup customers, he believes that the initial benefits of the company's strategic plan will begin to become evident shortly. Bogner reports that he expects to see Spare Backup report revenues of at least $2-3 million during the fourth quarter of this year, which would be a significant ramp-up from its current sales levels, and is attributed to what "we believe will be the initial turnover of current 'free-trial' contracts and new launches."
Bogner also adds that "We think the company could be close to breakeven and cash flow positive by early 2012." Bogner goes on to project that as the company "fully ramps up with four of its 'core customers' in 2012, we see revenues approaching $50 million and expect SPBU to report a net profit of more than $10 million or $0.05 per share." Bogner expects that Spare Backup will report a net loss of more than $10 million in 2011.
Additionally, the report cites the long-term prospects for the company that are even more impressive, noting that in its opinion, "revenues could more than double in 2013 and could be at least $250 million by 2015. This suggests earnings likely hitting $0.15 to $0.20 per share in 2013 and $0.60 to $0.65 per share in 2015."
Bogner recommends Spare Backup as an investment for risk-tolerant investors with a "speculative buy" rating for the following reasons:
- The company has weathered the storm of delays in launching its proprietary products;
- The global market opportunity for mobile devices is huge;
- The company is very savvy about protection/backup systems for 'smart phones'
The analysts believe that the company will be both profitable and cash flow positive in 2012.
About Spare Backup, Inc.
Spare Backup, Inc. specializes in helping consumers, small office/home office users and small to mid-sized businesses protect their computer data quickly, automatically and cost-effectively. The company's flagship Spare Backup product is the first totally automated online backup service that intelligently selects, secures and stores files without any user intervention, automatically backing up documents, email, music, photos and other PC files on a continuous basis or according to the schedule of the user's choice.
Safe Harbor Statement
The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking information made on the company's behalf. All statements, other than statements of historical facts, which address the company's expectations of sources of capital or which express the company's expectation for the future with respect to financial performance or operating strategies can be identified as forward-looking statements. Such statements made by the company are based on knowledge of the environment in which it operates, but because of the possibility of unknown factors, as well as other factors beyond the control of the company, actual results may differ materially from the expectations expressed in the forward-looking statement. An investment in our common stock involves a significant degree of risk. You should not invest in our common stock unless you can afford to lose your entire investment. You should consider carefully all risk factors and other information in our annual report and quarterly filings before deciding to invest in our common stock. If any of the following risks and uncertainties develops into actual events, our business, financial condition or results of operations could be materially adversely affected and you could lose your entire investment in our company.
Forward Looking Statements:
This press release contains forward-looking statements that involve a number of risks and uncertainties, including statements regarding the outlook of the Company's business and results of operations. By nature, these risks and uncertainties could cause actual results to differ materially from those indicated. Generally speaking, any statements using terms such as "will," "expect," "anticipate," or "may," or which otherwise predict or address future results or events, are likely to contain forward-looking statements. It is important to note that actual results may differ materially from what is indicated in any forward-looking statement. Readers should consider any forward-looking statements in light of factors that could cause actual results to vary. These factors are described in Spare Backups filings with the SEC, and readers should refer to those filings, including Risk Factors described in those filings, in connection with any forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.
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SOURCE Spare Backup, Inc.