Courtesy of Benzinga.
Tangoe, Inc. (NASDAQ: TNGO) has acquired privately held ttMobiles, Limited, a leading provider of mobile communications management solutions and services based in the United Kingdom.
ttMobiles’ Expected to Have a Positive Financial Impact on Tangoe’s Financial Results
As a result of the ttMobiles transaction, Tangoe is increasing its financial guidance as follows:
First Quarter 2012 Guidance: “We expect ttMobiles to contribute approximately $0.5 million in total revenue, with approximately $0.4 million in recurring and $0.1 million in non-recurring. As such, total revenue is now expected to be in the range of $32.7 million to $33.2 million, up from prior guidance of $32.2 million to $32.7 million. We don’t currently expect the transaction to have material impact on non-GAAP profitability during the first quarter. We continue to expect Adjusted EBITDA to be in the range of $3.5 million to $3.7 million and non-GAAP net income per share to be approximately $0.08 based on approximately 39.0 million weighted-average diluted shares outstanding.”
Full Year 2012 Guidance: “We expect ttMobiles to contribute approximately $4.5 million in total revenue, with approximately $3.5 million in recurring and $1.0 million in non-recurring. As such, total revenue is now expected to be in the range of $141.5 million to $143.5 million, up from prior guidance of $137.0 million to $139.0 million. Adjusted EBITDA is now expected to be in the range of $20.0 million to $20.5 million, up from prior guidance of $19.5 million to $20.0 million. Non-GAAP net income per share is now expected to be in the range of $0.42 to $0.43, up from prior guidance of $0.41 to $0.42 based on approximately 39.5 million weighted-average diluted shares outstanding.”
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