MGM Wireless maintains FY11 guidance

MGM Wireless maintains FY11 guidance

School communications services company MGM Wireless (ASX:MWR) has revealed it is on track to achieving profit for the full year on par with the $200,000 it took in during FY10.

In an update to shareholders, the company said it had recorded revenue for the March quarter of $535,000, and increased its number of operational school customers 9.5% quarter-on-quarter to 613.

But it said new sales of its services, which include SMS-based parental alert systems, were soft in a quarter that contains a long school summer holiday.

The first revenues from a contract with the New Zealand Ministry of Education came flowing in, with 18 schools installed and a further 35 signed up under the deal.

The company also migrated its data processing to a cloud hosting facility in Sydney.

MGM Wireless said it expects sales in the June quarter to pick up from the slow previous quarter.

The company reported a better-than-expected profit of $45,000 for the first half, from 18% higher revenue of $1.2 million.

MWR shares stayed flat on Thursday at $0.007.

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Tags MGM WirelessGuidanceASX:MWR

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