MacroSolve Revenues Jump 43% in Second Quarter
Driven by increased sales to current customers and addition of new customers
TULSA, Okla., September 3, 2008 – MacroSolve, Inc. (OTC:MCVE), parent company of Anyware Mobile Solutions, today announced second-quarter results for the period ended June 30, 2008. Revenues for the quarter were up 43% or $203,563 to $677,900 from $474,337 in the second quarter of fiscal 2007. Gross profit for the quarter rose 15% or $39,206 to $306,791 from $267,585 a year ago. Cost of sales increased in support of higher sales and is mainly attributed to additional staffing costs. Operating, selling, general, and administrative costs rose 31% or $137,362 to $578,803 from $441,441 in 2007. This increase was due both to higher staffing costs associated with increasing sales as well as expenses related to the upcoming launch of the company’s mobile business solutions community and e-marketplace website. Net loss was $(295,373) up 64% from the same period last year. On a per share basis, net loss was $(0.01) per basic and diluted share, which remained unchanged from the prior year’s quarter.
For the six month period ended June 30, 2008, revenues rose 43% or $528,180 to $1,761,939 from $1,233,759 in the first six months of 2007. Gross profit for the period was up 34% or $178,265 to $693,937 over $515,672 in the first six months of the prior year. Cost of sales increased in support of higher revenues. Operating, selling, general and administrative costs rose 22% or $198,626 to $1,088,387 from $889,761 in 2007. Net loss for the six months increased 13% to $(432,955) from the prior year’s first six months. Basic and diluted net loss per share remained $(0.01) per share, unchanged from the prior year period.
“We continue to maintain the kind of growth we’ve experienced in the past several quarters. As our net revenue numbers grow we expect to sustain strong quarter-over-quarter growth on a percentage basis,” stated MacroSolve president and CEO, Clint Parr. “The market for mobile solutions in the small and medium sized business market continues to be robust. We’re seeing an expansion in our contracts with our current customers coupled with new contracts with a growing list of new customers.”
“We’re using our platform of solid growth to invest in the upcoming launch of our community-commerce site which will streamline the purchase, sale, and servicing of mobile solutions for our market,” concluded Parr.
About MacroSolve
Through its Anyware Mobile Solutions division, MacroSolve, Inc. is a leading provider of mobile data and mobile video business solutions. With expansive wireless industry relationships, intellectual property and proven success in enabling mobility, MacroSolve pursues innovative strategies to help businesses gain bottom-line benefits and competitive advantage through mobility. MacroSolve also assists third party application companies in mobilizing their products and marketing them to businesses. For more information, visit www.macrosolve.com or call 800-401-8740.
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