synacor inc (SYNC) Key Developments
Synacor and Mediacom Communications Expand Relationship Through Multiyear Agreement
Jun 17 15
Synacor Inc. announced a multiyear agreement with Mediacom Communications Corporation that includes Synacor's next-generation portal, TV Everywhere authentication, and advertising solutions. Synacor will bring Mediacom's customers a redesigned, consumer-centric user-interface, an advanced search & discovery metadata platform, and easy to use TV Everywhere login process, as well as targeted content syndicated by Synacor.
Synacor, Inc. Reports Unaudited Consolidated Earnings and Operating Results for the First Quarter Ended March 31, 2015; Provides Earnings Guidance for the Second Quarter and Full Year of 2015
Apr 30 15
Synacor, Inc. reported unaudited consolidated earnings and operating results for the first quarter ended March 31, 2015. For the quarter, the company reported revenue of $26,730,000 compared to $25,248,000 a year ago. Loss from operations was $971,000 compared to $2,414,000 a year ago. Loss before income taxes was $1,037,000 compared to $2,494,000 a year ago. Net loss was $1,073,000 or $0.04 per basic and diluted share compared to $2,056,000 or $0.07 per basic and diluted share a year ago. Net cash used in operating activities was $2,165,000 against net cash provided by operating activities of $1,166,000 for the same period a year ago. Purchases of property and equipment were $600,000 against $1,519,000 for the same period a year ago. Adjusted EBITDA was $1,267,000 against adjusted LBITDA of $675,000 for the same period a year ago.
The company provided earnings guidance for the second quarter and full year of 2015. For the quarter, revenue is projected to be in the range of $24.0 million to $25.5 million. The company expects to report adjusted EBITDA of $0.2 million to $1.2 million.
For the year, revenue is projected to be in the range of $97.0 million to $102.0 million. The company expects to report adjusted EBITDA of $2.0 million to $4.0 million.
MTS Selects Synacor to Provide Email Solution
Apr 23 15
Synacor Inc. announced that MTS has selected Synacor's Cloud Email Platform to support the MTS Mail email service. MTS Mail includes functions consumers expect to find in a leading email experience (e.g. spam and abuse protection, expansive storage, advanced message search, address book and calendar options). Hosted in Canada, users can also enjoy the peace of mind that comes from knowing their data is safe and secure.
Synacor Inc. Announces Executive Changes
Apr 16 15
Synacor Inc. announced the appointment of executives, who will focus on key areas of growth for the company and who were attracted to company’s market potential. Anand Subramanian has been named Senior Vice President, Strategic Operations. David Ho has been named Vice President, Professional Services. Singu Srinivas has been named General Manager, Strategic Accounts. Anand Subramanian is the former CEO of NimbleTV, who joined Synacor through the acquisition earlier this year. At NimbleTV, Subramanian helped to innovate around efficient video streaming and CDN solutions. He was formerly CEO of ContextWeb. Subramanian will be taking a broader role at Synacor, leading strategic operations and finding areas for efficiency and effectiveness leveraging his video delivery, advertising and data analytics expertise. David Ho served most recently as VP of Engineering for Synchronoss Technologies, where he had oversight of the engineering teams designing, building, delivering and supporting a portfolio of Commerce and Care solutions to top telecom and MSO clients around the world. Prior to that, Ho led professional service organizations at Nuance Communications and Comverse Network Systems.Ho will be leading the Professional Services team at Synacor, responding to the growing customization and integration needs of customers with solution delivery and project management discipline. Singu Srinivas has been an advisor to Fortune 500 and high growth technology companies as a management consultant, senior executive and founder. His expertise spans managed services and software-as-a-service businesses in the communications, electronics and software industries. He joins Synacor from management consulting firm, Waterstone Management Group, where he was a partner. Prior to that, Srinivas was a general manager at Radialpoint, and a management consultant with IBM Global Services, Deloitte Consulting and Accenture. Srinivas will lead Strategic Accounts at Synacor, helping to deepen relationships and grow revenues with key customers.
Synacor, Inc. Revises Earnings Guidance for the First Quarter and Full Year of Fiscal 2015
Apr 10 15
Synacor, Inc. revised earnings guidance for the first quarter and full year of fiscal 2015. Revenue for the first quarter of 2015 is projected to be in the range of $26.0 million to $26.5 million. Previously, the Company provided guidance for first quarter 2015 revenue in the range of $24.0 million to $26.0 million. For the first quarter of 2015, the Company expects to report adjusted EBITDA of $0.5 to $1 million. Previously, the Company provided guidance for the first quarter 2015 Adjusted EBITDA of $0.0 million to $1 million. During the first quarter of 2015, the company generated over $1.0 million in cash.
Revenue for the full year of 2015 is projected to be in the range of $97.0 million to $102.0 million. Previously, the Company provided guidance for Fiscal Year 2015 revenue in the range of $95.0 million to $100.0 million. For the full year of 2015, the Company expects to report adjusted EBITDA of $2.0 million to $4.0 million. Previously, the Company provided guidance for Fiscal Year 2015 adjusted EBITDA of $1.5 million to $3.5 million.