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Synchronica announces interim Results for first half of 2010

15 July, 2010

Synchronica plc, the AIM-listed mobile email, instant messaging and data synchronisation provider, announces Interim Results for the six months ended 30 June 2010.

Synchronica plc’s award-winning product portfolio includes the flagship product Mobile Gateway, which provides push email, synchronization, instant messaging, backup & restore, and mobile connectivity to social networks. Synchronica’s white-label products are sold to mobile operators and device manufacturers targeting high-growth emerging markets.

Financial Highlights

• Revenues up 2.5 times to £3.43m (H1 ‘09: £1.33m), 90% of previous full year revenues (FY ’09: £3.8m)
• Costs increased modestly to £4.1m (H1 ‘09: £3.5m)
• Gross profits up significantly to £3.28m (H1 ‘09: £1.18m)
• Gross Margin continues to be high at 96%
• Loss before tax reduced to £1.34m (H1 ‘09: £2.49m loss)

Operational Highlights

• Launched MessagePhone™ in February 2010, introducing the first low-cost messaging device bundled with Mobile Gateway; two purchase orders received from operators in Africa and Latin America and sales are expected to accelerate in the second half of 2010.
  
  
• Announced major product upgrade to Synchronica Mobile Gateway 5, adding Instant Messaging and Mobile Social Networking, enhancing value proposition and improving the competitive position.
  
  
• Acquired Colibria’s IMPS business with group-wide framework agreements covering over 320m subscribers in Latin America.
  
  
• Announced 10 deals with mobile operators and device manufacturers in H1 ’10; expanded customer base to more than 40 contracts representing a total addressable market of 660m subscribers.
  
  
• Extended global reseller network contributed six deals in H1 ’10; reseller network now includes Brightstar, Nokia Siemens Networks and an Asian-based telecoms vendor.
  
• Significantly increased deal size towards the end of H1 ’10, with three $1m+ deals signed in June 2010.
  
  
• Increasing traction with deals from three additional device manufacturers in H1 ’10 bundling low-cost messaging devices with Synchronica Mobile Gateway to provide end-to-end push Email, instant messaging and mobile social networking.

Carsten Brinkschulte, CEO of Synchronica, said, “We have made significant progress over the past six months and expect to continue this accelerated momentum in the second half of the year. Not only are we signing up more customers, we are also seeing an increase in the average deal size. With a sustained commitment to innovative product development, in tandem with our global international reseller network of system integrators and device manufacturers, Synchronica is on its way to become the market leader for next-generation mobile messaging services in emerging markets.”

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