Mandalay Digital Group Inc (NASDAQ:MNDL), which is a solution provider for U.S wireless carriers mobile vertical, released strong guidance for its fiscal year 2015 operations which is slated to end on 31st March 2015. The highlights of the same are discussed below.
Fy15 Revenue Guidance – $46M To $50M
The firm anticipates its revenue for the fiscal year 2015, is likely to double in comparison to revenue it will end in FY14. The report goes on to reaffirm its previously provided upbeat forecast for FY14 in which it had projected revenue for the full year to come in between $25 to $27 million. . Revenue for FY15 is expected to come in between $46 to $50 million. The firm has also highlighted that the revenue estimation does not included any likely increase that could occur in revenue, in the event of new acquisitions. It anticipates a gross margin to range in the 50 percent and above region, which would translate into a big jump from its anticipated FY14 gross margins.
New Product Leading To Jump In Revenue
The jump in revenue is being forecasted on the back of the Los Angeles based firm releasing into the market, its flag ship and much anticipated “DT Ignite” solution platform. This solution has received rave reviews from network operators and Mandalay Digital Group Inc (NASDAQ:MNDL) expects huge demand from the telecom operators in Asia and Russia. So strong has been the demand for it’s yet to be introduced solution that the firm has forecasted that close to 12 million of its “DT Ignite” solution will be installed at the customer premises by end of Fy15.
Mandalay Digital Group Inc (NASDAQ:MNDL) CEO Peter Adderton sounded extremely buoyant about the FY15 prospects for his firm and has been quoted to have said that, “Mandalay’s business prospects remain very strong, with increasing customer demand and a rich pipeline. Our cost per install, or CPI, advertising model, and content search and discovery products, are driving our future growth, and I am excited to see our products now being embraced by many global carriers.”