SITO Mobile Announces Preliminary Media Placement Revenue Results for 4th Quarter
January 03 2017 - 8:30AM
SITO Mobile Ltd. (NASDAQ:SITO), a leading mobile engagement
platform provider, announced today that preliminary media placement
revenue for the quarter ending December 31, 2016, is expected to be
in the range of $7.3 -$7.6 million. SITO is scheduled to
report its 4th quarter and full year results on March 28, 2017.
SITO Mobile’s 4th quarter was negatively affected this year by
restrained advertising spending during a period of heightened and
elongated media focus on this year’s U.S. election.
Commenting on the quarter, Jerry Hug, SITO Mobile’s CEO, said,
“We are disappointed that Q4 ad revenue fell below our expectations
after a very good year overall. We clearly
underestimated the effects of this year’s election on our clients’
campaign spending. Leading into the quarter, we saw seemingly
normal activity levels and then revenue dropped off dramatically
during the election window. Revenue and bookings activity
picked back up again in December. We continue to win new
business and retain our valued customer relationships by leveraging
SITO’s effective and efficient location-based targeting in
combination with fully transparent, real-time insights into
marketers’ campaigns. Additionally, we look forward to
introducing syndicated recurring data deals in 2017 to mitigate the
variability of our financial performance.”
About SITO Mobile Ltd.
SITO Mobile provides a mobile engagement platform that enables
brands to increase awareness, loyalty and ultimately sales. For
more information, visit www.sitomobile.com.
Forward-Looking StatementsThis press release
contains "forward-looking statements" within the meaning of the
safe harbor provisions of the U.S. Private Securities Litigation
Reform Act of 1995. Forward-looking statements are neither
historical facts nor assurances of future performance. Instead,
they are based only on our current beliefs, expectations and
assumptions regarding the future of our business, future plans and
strategies, projections, anticipated events and trends, the economy
and other future conditions. Because forward-looking statements
relate to the future, they are subject to inherent uncertainties,
risks and changes in circumstances that are difficult to predict
and many of which are outside of our control. Our actual results
and financial condition may differ materially from those indicated
in the forward-looking statements. Therefore, you should not rely
on any of these forward-looking statements. Important factors that
could cause our actual results and financial condition to differ
materially from those indicated in the forward-looking statements
include, among others, our reliance on brand owners and wireless
carriers, the possible need for additional capital as well as other
risks identified in our filings with the SEC. Any forward-looking
statement made by us in this press release is based only on
information currently available to us and speaks only as of the
date on which it is made. We undertake no obligation to publicly
update any forward-looking statement, whether written or oral, that
may be made from time to time, whether as a result of new
information, future developments or otherwise.
Contacts:
Investor Relations:
Joseph Wilkinson
SVP Investor Relations
Joseph.Wilkinson@sitomobile.com
Media Relations:
Alexandra Levy
Silicon Alley Media
alex@siliconalley-media.com
RELATED LINKS
http://www.sitomobile.com
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