Key Developments: Synchronoss Technologies Inc (SNCR.O)
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22 May 2013
$-0.36 (-1.14%)
$31.53
$31.53
$32.11
$30.77
349,518
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$32.98
$16.89
Latest Key Developments (Source: Significant Developments)
Synchronoss Technologies Inc Raises Low End Of Prior FY 2013 Revenue Guidance To A Range In Line With Analysts' Estimates; Reaffirms FY 2013 EPS Guidance-Conference Call
Synchronoss Technologies Inc announced that for fiscal 2013, it expects Non-GAAP revenues to be in the range of $335 million to $350 million and non-GAAP EPS of approximately $1.30 to $1.36. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $341 million and EPS of $1.33 for fiscal 2013. Full Article
Synchronoss Technologies Inc Issues Q1 2013 Guidance; Revenue Guidance Above Analysts' Estimates; Issues FY 2013 Guidance; EPS Guidance Above Analysts' Estimates-Conference Call
Synchronoss Technologies Inc announced that for fiscal 2013, it expects Non-GAAP revenues to be in the range of $330 million to $350 million and non-GAAP EPS of approximately $1.30 to $1.36. For the first quarter of 2013, it expects non-GAAP revenues in the range of $75 million to $78 million and non-GAAP EPS of approximately $0.27 to $0.29. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $330 million and EPS of $1.29 for fiscal 2013; revenue of $74 million and EPS of $0.29 for the first quarter of 2013. Full Article
Synchronoss Technologies Inc Announces Acquisition Of NewBay; Sees Restructuring Charge In Q1 2013
Synchronoss Technologies Inc announced that it has acquired NewBay, a wholly owned subsidiary of Research in Motion Limited. NewBay is a cloud services, enabling mobile operators and service providers to deliver content experiences across connected devices such as smartphones, tablets, PC`s and TV`s. NewBay`s cloud services are delivered to millions of user and stores billions of media files for live operator services around the world. In consideration for the acquisition, Synchronoss paid $55.5 million in cash to Research in Motion Limited, and there was no assumption of cash or debt. The transaction closed at the end of the fourth quarter of 2012. Synchronoss expects the acquisition will be neutral to slightly accretive, on a non-GAAP basis, to its fiscal 2013 financial results. Non-GAAP results exclude stock-based compensation expense, amortization of intangibles associated with acquisitions, non-recurring professional fees associated with closing acquisitions and the purchase accounting reduction to deferred revenue associated with acquired companies. Additionally, for GAAP purposes, Synchronoss expects to incur a restructuring charge in the first quarter of 2013 related to the acquisition of NewBay. Full Article
Mediacom Communications Selects Synchronoss Technologies Inc To Activate Mobile Customer Care Application
Synchronoss Technologies Inc announced the deployment of a mobile customer care application that gives Mediacom customers instant and simple access to Mediacom customer service using a smartphone or tablet. Branded as MediacomConnect, the new mobile care application gives customers an easy way to troubleshoot and resolve service inquiries, schedule appointments and view or pay bills. MediacomConnect is designed specifically to extend key customer care services and functions, such as resetting high speed Internet routers or set top boxes, among other technical issues. MediacomConnect allows customers to use a voice-activated or on-screen search to quickly connect to information they are seeking. Click-through troubleshooting steps provide a speedy way to rectify the common issues affecting video and Internet service. The new application is available as a free download for use on iPhone, tablet or Android devices. Full Article
Synchronoss Technologies Inc Issues FY 2012 Guidance In Line With Analysts' Estimates-Conference Call
Synchronoss Technologies Inc announced that for fiscal 2012, it expects non-GAAP revenues in the range of $269.3 million to $273.3 million and non-GAAP EPS in the range of $1.05 to $1.08. According to I/B/E/S Estimates, analysts on an average are expecting the Company to report revenue of $272.5 million and EPS of $1.06 for fiscal 2012. Full Article
Synchronoss Technologies, Inc. Announces Stock Repurchase Program
Synchronoss Technologies, Inc. announced that its Board of Directors has authorized a stock repurchase program under which Synchronoss may repurchase up to $25 million of its outstanding common stock. Synchronoss plans to make such purchases at prevailing prices over the next twelve months, subject to applicable rules and regulations of the Securities and Exchange Commission. Any purchases under the stock repurchase program may be made, from time to time, in the open market, through block trades or otherwise. The program does not obligate Synchronoss to acquire any particular amount of common stock and purchases may be commenced or suspended at any time, or from time to time, without prior notice based on market conditions and other factors. Full Article
Synchronoss Technologies, Inc. Acquires Miyowa, Inc.
Synchronoss Technologies, Inc. announced that it has acquired privately-held Miyowa, Inc., the provider of social network and messaging software for mobile devices. Synchronoss will add Miyowa’s capabilities and technology to its existing mobility platform for connected devices. Headquartered in Marseille, France, Miyowa provides experience for mobile social networking from the device to the cloud, instant messaging, and sharing digital media across all operating systems and the widest range of connected devices. From a financial perspective, the purchase price of the acquisition is approximately $45.5 million in cash. In addition, Synchronoss may pay up to an additional $13.5 million in cash based on Miyowa’s business achieving certain performance targets over the next four quarters. Full Article
Synchronoss Technologies, Inc. Appoints Robert Garcia To President And Chief Operating Officer
Synchronoss Technologies, Inc. announced that its Chief Operating Officer, Robert Garcia, has been promoted to President. Mr. Garcia will continue to report to the Synchronoss Founder, Chairman, and Chief Executive Officer Stephen Waldis. Full Article
Synchronoss Technologies, Inc. Raises FY 2011 Guidance; Issues Q4 2011 Guidance In Line With Analysts' Estimate-Conference Call
Synchronoss Technologies, Inc. announced that for fiscal 2011, it is raising its revenue guidance from a range of $225 million to $229 million, to approximately $229 million to $230 million and non-GAAP earnings per share (EPS) range to $0.86 to $0.87. For fourth quarter of 2011, the Company expects non-GAAP revenues in the range of $61 million to $62 million and non-GAAP EPS of approximately $0.23. According to I/B/E/S Estimates, analysts on an average were expecting the Company to report EPS of $0.23 on revenues of $61 million for the fourth quarter of 2011; EPS of $0.85 on revenues of $228 million for fiscal 2011. Full Article
Dashwire, Inc. Settles Patent Infringement Lawsuit With Synchronoss Technologies, Inc.
Synchronoss Technologies, Inc. announced that Synchronoss and Dashwire, Inc., a provider of mobile web connected platforms, resolved their dispute regarding the use of Synchronoss’ cloud management and transfer of content technology. Under the agreement, Dashwire will take a limited license to specific Synchronoss cloud management patents. Synchronoss will receive a lump-sum payment and future royalties. The exact terms of the agreement were not disclosed. Full Article
Synchronoss Technologies buys RIM's cloud services unit
Dec 27 - Software maker Synchronoss Technologies Inc said it bought NewBay, the cloud services unit of Research In Motion Ltd , for $55.5 million in cash.
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