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<SEC-DOCUMENT>0001144204-10-043008.txt : 20100812
<SEC-HEADER>0001144204-10-043008.hdr.sgml : 20100812
<ACCEPTANCE-DATETIME>20100812080019
ACCESSION NUMBER: 0001144204-10-043008
CONFORMED SUBMISSION TYPE: 6-K
PUBLIC DOCUMENT COUNT: 2
CONFORMED PERIOD OF REPORT: 20100812
FILED AS OF DATE: 20100812
DATE AS OF CHANGE: 20100812
FILER:
COMPANY DATA:
COMPANY CONFORMED NAME: MER TELEMANAGEMENT SOLUTIONS LTD
CENTRAL INDEX KEY: 0001025561
STANDARD INDUSTRIAL CLASSIFICATION: TELEPHONE & TELEGRAPH APPARATUS [3661]
IRS NUMBER: 000000000
FISCAL YEAR END: 1231
FILING VALUES:
FORM TYPE: 6-K
SEC ACT: 1934 Act
SEC FILE NUMBER: 000-28950
FILM NUMBER: 101009471
BUSINESS ADDRESS:
STREET 1: 22 ZARHIN STREET
CITY: RA'ANANA
STATE: L3
ZIP: 43662
BUSINESS PHONE: 972 9 7621 733
MAIL ADDRESS:
STREET 1: 22 ZARHIN STREET
CITY: RA'ANANA
STATE: L3
ZIP: 43662
</SEC-HEADER>
<DOCUMENT>
<TYPE>6-K
<SEQUENCE>1
<FILENAME>v193479_6k.txt
<TEXT>
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
-----------------------
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER PURSUANT TO RULE 13a-16 OR 15d-16
UNDER THE SECURITIES EXCHANGE ACT OF 1934
For the month of August 2010
MER TELEMANAGEMENT SOLUTIONS LTD.
(Name of Registrant)
14 Hatidhar Street, Ra'anana 43665, Israel
(Address of Principal Executive Office)
Indicate by check mark whether the registrant files or will file annual
reports under cover of Form 20-F or Form 40-F.
Form 20-F |X| Form 40-F |_|
Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(1): |_|
Indicate by check mark if the registrant is submitting the Form 6-K in
paper as permitted by Regulation S-T Rule 101(b)(7): |_|
Indicate by check mark whether by furnishing the information contained in
this Form, the registrant is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of 1934.
Yes |_| No |X|
If "Yes" is marked, indicate below the file number assigned to the
registrant in connection with Rule 12g3-2(b): 82- ____________
This Form 6-K is being incorporated by reference into the Registrant's Form F-3
Registration Statement File No. 333-128225 and Form S-8 Registration Statements
File Nos. 333-12014 and 333-123321.
<PAGE>
MER Telemanagement Solutions Ltd.
6-K Item
1. MTS Announces Second Quarter 2010 Financial Results
<PAGE>
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the
registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
MER TELEMANAGEMENT SOLUTIONS LTD.
(Registrant)
By:
--------------------------------
Eytan Bar
Chief Executive Officer
Date: August 12, 2010
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>EX-99.1
<SEQUENCE>2
<FILENAME>v193479_ex99-1.txt
<TEXT>
[MTS LOGO]
MTS Announces Second Quarter 2010 Financial Results
---------------------------------------------------
Ra'anana, Israel -August 12, 2010 - MTS - Mer Telemanagement Solutions Ltd.
(Nasdaq Capital Market: MTSL), a global provider of business support systems
(BSS) for comprehensive telecommunication management, telecommunications expense
management (TEM) solutions and customer care & billing (CC&B) solutions, today
announced its financial results for the second quarter of 2010.
Revenues for the second quarter of 2010 were $3.1 million, compared with $2.9
million in revenues during the same quarter last year and revenues of $2.9
million in the first quarter of 2010. The Company's operating profit was $42,000
in the second quarter of 2010 compared to an operating loss of $394,000 for the
second quarter of 2009. Net income for the second quarter was $47,000 or $0.01
per diluted share, compared with a net loss of $414,000 or $(0.09) per diluted
share in the second quarter of 2009. Revenues for the six month period ended
June 30, 2010 were $5.7 million, compared with $4.8 million for the comparable
period in 2009. Net income for the six months ended June 30, 2009 was $45,000 or
$0.01 per diluted share, compared with a net loss of $678,000 or ($0.15) per
diluted share in the comparable period in 2009. All numbers relating to our
ordinary shares and earnings per share have been adjusted to reflect the reverse
stock split that became effective on March 2, 2010.
"Our second quarter results were in line with our expectations for improved
operating results. They reflect the focus we placed on improving our
implementation processes while closely monitoring our overall costs," said Eytan
Bar, CEO of MTS.
"The Company continues to see market opportunities as we leverage our solutions
and our strategy to grow our Telecom Expense Management business through
partners. In addition, the Company's MVNE activity has grown. Our billing
software is being provided to Mobile Virtual Network Operator's (MVNO) as a
licensed software offering internationally, and as a managed service in the
U.S." concluded Mr. Bar.
About MTS
Mer Telemanagement Solutions Ltd. (MTS) is a worldwide provider of innovative
solutions for comprehensive telecommunications expense management (TEM) used by
enterprises, and for business support systems (BSS) used by information and
telecommunication service providers.
Since 1984, MTS Telecommunications' expense management solutions have been used
by thousands of enterprises and organizations to ensure that their
telecommunication services are acquired, provisioned, and invoiced correctly. In
addition, the MTS's Application Suite has provided customers with a unified view
of telecommunication usage, proactive budget control, personal call management,
employee cost awareness and more.
<PAGE>
AnchorPoint TEM solutions enable enterprises to gain visibility and control of
strategic assets that drive key business processes and crucial competitive
advantage. The AnchorPoint's software, consulting and managed services solutions
- -- including integrated Invoice, Asset, and Usage Management and Business
Analytics tools -- provide professionals at every level of the organization with
rapid access to concise, actionable data.
MTS's solutions for Information and Telecommunication Service Providers are used
worldwide by wireless and wireline service providers for interconnect billing,
partner revenue management and for charging and invoicing their customers. MTS
has pre-configured solutions to support emerging carriers of focused solutions
(e.g. IPTV, VoIP, WiMAX, MVNO) to rapidly install a full-featured and scaleable
solution.
Headquartered in Israel, MTS markets its solutions through wholly owned
subsidiaries in the United States, Hong Kong and The Netherlands as well as
through OEM partnerships with Siemens, Phillips, NEC and other vendors. MTS
shares are traded on the NASDAQ Capital Market (symbol MTSL). For more
information please visit the MTS web site: www.mtsint.com.
Certain matters discussed in this news release are forward-looking statements
that involve a number of risks and uncertainties including, but not limited to,
risks in product development plans and schedules, rapid technological change,
changes and delays in product approval and introduction, customer acceptance of
new products, the impact of competitive products and pricing, market acceptance,
the lengthy sales cycle, proprietary rights of the Company and its competitors,
risk of operations in Israel, government regulations, dependence on third
parties to manufacture products, general economic conditions and other risk
factors detailed in the Company's filings with the United States Securities and
Exchange Commission.
Contacts:
Company:
Alon Mualem
CFO
Tel: +972-9-7777-540
Email: Alon.Mualem@mtsint.com
<PAGE>
CONSOLIDATED BALANCE SHEETS
- --------------------------------------------------------------------------------
U.S. dollars in thousands
June 30, December 31,
------------ ------------
2010 2009
------------ ------------
ASSETS
CURRENT ASSETS:
Cash and cash equivalents $ 1,853 $ 2,173
Restricted marketable securities 110 227
Trade receivables, net 842 771
Unbilled receivables 10 10
Other accounts receivable and prepaid expenses 296 376
Inventories 29 39
------------ ------------
Total current assets 3,140 3,596
------------ ------------
LONG-TERM ASSETS:
Severance pay fund 715 767
Other investments 30 31
Deferred income taxes 35 35
------------ ------------
Total long-term assets 780 833
------------ ------------
PROPERTY AND EQUIPMENT, NET 154 175
------------ ------------
OTHER ASSETS:
Goodwill 3,479 3,479
Other intangible assets, net 1,603 1,807
------------ ------------
Total other assets 5,082 5,286
------------ ------------
Total assets $ 9,156 $ 9,890
============ ============
<PAGE>
CONSOLIDATED BALANCE SHEETS
- --------------------------------------------------------------------------------
U.S. dollars in thousands (except share and per share data)
June 30, December 31,
------------ ------------
2010 2009
------------ ------------
LIABILITIES AND SHAREHOLDERS' EQUITY
CURRENT LIABILITIES:
Trade payables $ 494 $ 432
Accrued expenses and other liabilities 2,221 2,531
Deferred revenues 2,318 2,741
------------ ------------
Total current liabilities 5,033 5,704
------------ ------------
LONG-TERM LIABILITIES -
Accrued severance pay 968 1,071
------------ ------------
COMMITMENTS AND CONTINGENT LIABILITIES
SHAREHOLDERS' EQUITY:
Share capital 13 13
Additional paid-in capital 19,629 19,577
Treasury shares (29) (29)
Accumulated other comprehensive income (34) 23
Accumulated deficit (16,424) (16,469)
------------ ------------
Total shareholders' equity 3,155 3,115
------------ ------------
Total liabilities and shareholders' equity $ 9,156 $ 9,890
============ ============
<PAGE>
CONSOLIDATED STATEMENTS OF OPERATIONS
- --------------------------------------------------------------------------------
U.S. dollars in thousands (except share and per share data)
<TABLE>
<CAPTION>
Six months ended Three months ended
June 30, June 30,
---------------------------- ---------------------------
2010 2009 2010 2009
------------ ------------ ------------ ------------
<S> <C> <C> <C> <C>
Revenues:
Product sales $ 2,387 $ 2,741 $ 1,270 $ 1,442
Services 3,546 2,977 1,785 1,484
------------ ------------ ------------ ------------
Total revenues 5,933 5,718 3,055 2,926
------------ ------------ ------------ ------------
Cost of revenues:
Product sales 930 1,005 526 531
Services 1,674 1,003 830 538
------------ ------------ ------------ ------------
Total cost of revenues 2,604 2,008 1,356 1,069
------------ ------------ ------------ ------------
Gross profit 3,329 3,710 1,699 1,857
------------ ------------ ------------ ------------
Operating expenses:
Research and development, net of grants from the OCS 671 1,047 346 527
Selling and marketing 886 1,517 449 740
General and administrative 1,697 1,862 862 984
------------ ------------ ------------ ------------
Total operating expenses 3,254 4,426 1,657 2,251
------------ ------------ ------------ ------------
Operating profit (loss) 75 (716) 42 (394)
Financial income (expenses), net (18) 38 15 (20)
Capital gain on sale of investment -- -- -- --
------------ ------------ ------------ ------------
Income (loss) before taxes on income 57 (678) 57 (414)
Tax on income, net 12 -- 10 --
------------ ------------ ------------ ------------
Net income (loss) $ 45 $ (678) $ 47 $ (414)
============ ============ ============ ============
Net Income (loss) per share:
Basic and diluted net income (loss) per Ordinary share $ 0.01 $ (0.15) $ 0.01 $ (0.09)
============ ============ ============ ============
Weighted average number of Ordinary shares used in
computing basic and diluted net loss per share 4,458,975 4,458,975 4,458,975 4,458,975
============ ============ ============ ============
</TABLE>
</TEXT>
</DOCUMENT>
</SEC-DOCUMENT>
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