SITO Mobile (SITO) Misses Q2 EPS by 8c, Revenues Miss

SITO Mobile (NASDAQ: SITO) reported Q2 EPS of ($0.23), $0.08 worse than the analyst estimate of ($0.15). Revenue for the quarter came in at $8.4 million versus the consensus estimate of $10.08 million.

Tom Pallack, SITO’s Chief Executive Officer commented, “We continue to advance initiatives to transform our organization from what has historically been a media placement business with one-time campaign driven revenues to a differentiated consumer behavior research organization with syndicated and contracted data revenues that are recurring. Our second quarter results highlight the challenges of our traditional campaign-driven media placement revenue model and underscore the benefits of the strategy we are actively pursuing. Media placement campaign volume grew on a sequential basis, despite the absence of one customer who accounted for approximately 46% of our first quarter revenues, which was not actively running campaigns with SITO during the second quarter. We anticipate increased levels of activity from this customer in the second half of this year.”

“We remain confident in our ability to augment our revenue model with transformative, multi-year, consumer insights and data-driven transactions with large enterprise brands,” Pallack added. “As part of our strategic transition, we reconstituted our board of directors and added accomplished marketing and advertising executives who have the expertise and relationships with brand and agency prospects to support our pursuit of new business and the experience to guide our organization through the business transition we have put in motion.”

For earnings history and earnings-related data on SITO Mobile (SITO) click here.

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