Unwired boosts revenues 11.7 percent, boasts 75,000 customers

Stuart Corner
Thursday, 25 October 2007 11:22

IT Industry - Deals

Unwired has reported customer revenue growth of 11.7 percent to $10.6 million for the quarter to 30 September and says it had more than 73,000 customers at that date, a six percent increase over the quarter.

CEO David Spence told the company's AGM today that the number was now in excess of 75,000. At the close of the quarter, Unwired had access to nearly $30 million in cash and facilities, including $20.1 million in its leasing facility, standby equity finance facility and AusIndustry grant. Spence said the company was "in an excellent position to capitalise on the global momentum towards the deployment of true mobile data."

Net operating cash outflow for the quarter was $1.0 million, a reversal from a net inflow of $1.7 million in the previous quarter. The company said this had been expected with the payment in advance for the final year's sponsorship with Macquarie Radio Network of $1.7 million and the one time $1.6 million decrease in operating cash announced last quarter resulting from the capitalisation of ubowireless, the subsidiary company formed to exploit Unwired-developed intellectual property in wireless network optimisation. Unwired closed the quarter with $9.2 million in cash, after deducting bank guarantees.