Somoto Q1 2016 revenues estimated at USD8.9m

Somoto (TASE: SMTO) estimated that total revenues in its first quarter of 2016 were at least USD8.9 million, and EBITDA was at least USD3.1 million (representing approximately 35 percent of revenue).

In addition, the Company´s cash balance, including restricted cash, amounted to approximately USD13.5 million and net cash (net of bank credit) amounted to approximately USD6.2 million.

In the fourth quarter of 2015, and in comparison with the third quarter of 2015, the Company reported revenues of USD6.7 million, an increase of 8 percent; operating income before amortization (EBITDA) of USD2.1 million, an increase of 10 percent; net profit of approximately USD600 thousand, an increase of 1,400 percent; and operating cash flow of USD2.3 million, a decrease of 23 percent.

In addition, the Company reported operating cash flows in 2015 in the amount of USD7.4 million and declared a dividend of USD0.5 million and is considering distributing an additional dividend of USD0.5 million during the current year.

Somoto is a global software company, specializing in online marketing, and marketing, distribution, development and installation of Intelligent Auto (Smart Installer) applications from various advertisers, solutions for monetization and solutions for tracking and reporting for the app installation industry for personal computers (PC) and mobile devices.