Thursday, 28 May 2009

Elephant Talk's strategic growth plan remains on target – The Netherlands

Elephant Talk has released its Q109 results stating a positive first quarter and outlook for 2009. Mainly a mobile solutions firm, Elephant Talk, also describes itself as an MVNE which has positioned itself as the premier outsourcing partner for both MNOs and MVNOs.

Revenue for the three months ended March 31, 2009 was USD 9,428,884 compared to USD 11,757,280 for the same period in 2008 but remain on the 2009 budgeted target. The company reduced its net loss of USD 2.1 million by USD 500,000 for Q109 versus USD 2.6 million for the same period 2008.

Steven van der Velden, Chief Executive Officer of Elephant Talk, stated: “There were significant investments required to build the foundation of our Company. Our top notch infrastructure is now fully implemented which will allow ETAK to focus on its strategic growth plan of increasing market share and expanding our geographic footprint. Management is confidant that this plan will allow us to grow our business profitably while enhancing the Company’s valuation for shareholders.”