Redknee Solutions reported that its net income for July-September, the fourth quarter in its fiscal 2012, jumped 183% to $1.9 million.
Redknee’s full-year 2012 performance resulted in a turnaround to a net income of $5.3 million from a net loss of $1.6 million in 2011.
In the fourth quarter, recurring revenue rocketed by 47% while gross margin ratcheted up by 4 percentage points to 69%.
"Our success has been largely driven by mobile networks wanting to support expanding data usage and by MVNOs that want to provide mobile services as part of their offering,” said Lucas Skoczkowski, CEO of Redknee.
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