Numerex (NMRX) Adds 85K Net Subs to M2M Base in Q4
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Numerex Corp (Nasdaq: NMRX), reports that during the fourth quarter of 2011, the Company added approximately 85,000 subscriptions bringing its M2M subscription base to more than 1.43 million at the end of 2011.
Stratton Nicolaides, chairperson and CEO of Numerex stated "The Company's subscription growth in 2011 was at the higher end of the range of expectations as a result of strong demand from our channel partners in the latter half of last year. We believe that this trend will continue and, as a result, we expect to grow our M2M subscription base between 23% and 28% in 2012. This growth in subscriptions will drive additional 2012 M2M recurring revenues, which we anticipate will increase by 18% to 23%."
Stratton Nicolaides, chairperson and CEO of Numerex stated "The Company's subscription growth in 2011 was at the higher end of the range of expectations as a result of strong demand from our channel partners in the latter half of last year. We believe that this trend will continue and, as a result, we expect to grow our M2M subscription base between 23% and 28% in 2012. This growth in subscriptions will drive additional 2012 M2M recurring revenues, which we anticipate will increase by 18% to 23%."
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