10 Updates

Synchronoss: Real Profits From The Cloud

May 12 2014, 12:54pm CDT | by

Things have been brutal for cloud stocks lately. It seems that no company has been spared, including veteran operators like Synchronoss (SNCR). But the company’s CEO, Steve Waldis, remains very...

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11 weeks ago

Synchronoss: Real Profits From The Cloud

May 12 2014, 12:54pm CDT | by

Things have been brutal for cloud stocks lately. It seems that no company has been spared, including veteran operators like Synchronoss (SNCR).

But the company’s CEO, Steve Waldis, remains very optimistic. Then again, SNCR has continued to grow at a nice pace and yes, to generate profits. In the latest quarter, revenues jumped by 25% to $98.7 million and the cloud business spiked by 83%. The net income came to 39 cents per share.

Keep in mind the SNCR’s original business is mobile phone activations for carriers like AT&T, which continues to be lucrative. But the platform has proven to be effective in launching cloud services. “We’ve found that the new offerings result in more purchases of devices, better plans and less churn,” said Steve.

Such factors are nirvana for the mobile carriers, which are trying to find new ways to grow their businesses. But of course, this has turned into a way for SNCR to mint money as the company now has 70+ million cloud customers.

Yet all this appears to be in the early innings. For example, SNCR is rolling out its WorkSpace solution, which is focused on small and medium size businesses. Not only is this a big market but the margins should be juicier.

But there are also lucrative opportunities in foreign markets. So far, these efforts are still getting started. Although, there are already signs of traction. For example, SNCR recently snagged a deal Telstra, which is the largest carrier in Australia.

So, if anything, the recent plunge in cloud stocks has provided some nice opportunities to pick-up solid companies at nice discounts. True, there needs to be lots of analysis. But for the most part, SNCR does look compelling, in terms of a strong go-to-market strategy and clear signs that customers want the products being offered.

Tom Taulli (@ttaulli) is an advisor of tech companies and author of books on venture capital, M&A and IPOs .

 
Update
10

7 weeks ago

RM47mil KWSG contributions still unclaimed

Jun 9 2014 7:54am CDT | Source: Business Times Malaysia

KUALA LUMPUR: About RM47 million of contributions in the Teachers Provident Fund (KWSG) still remain unclaimed, the Dewan Rakyat was told today ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
9

7 weeks ago

Gold shop lost almost RM1mil

Jun 9 2014 3:50am CDT | Source: Business Times Malaysia

KANGAR: A gold shop owner lost almost RM1 million after after the safe on in his shop was broken int ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
8

7 weeks ago

Motion to debate MAS losses in Dewan Rakyat rejected

Jun 9 2014 3:39am CDT | Source: Business Times Malaysia

KUALA LUMPUR: AN emergency motion to debate the losses incurred by Malaysia Airlines last year, amounting to RM1.2 billion was rejected by the Dewan Rakya ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
7

7 weeks ago

MH370 Tragedy: Hisham: RM27.6 mil spent on 1st phase of SAR

Jun 9 2014 2:11am CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia spent some RM27.6 million in its first phase of the search operations for missing Malaysia Airline flight MH370, said Acting Transport Min ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
6

7 weeks ago

9.1m litres of diesel seized in a month

Jun 8 2014 1:11am CDT | Source: Business Times Malaysia

PUTRAJAYA: The Domestic Trade, Cooperatives, and Consumerism ministry has seized some 9.1 million litres of diesel and property worth RM58 million since mounting ‘Operasi Diesel Selatan’ in the southern state ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
5

7 weeks ago

Girl, 9, awarded RM2.78m compensation for medical negligence

Jun 6 2014 4:56am CDT | Source: Business Times Malaysia

KUALA LUMPUR: A nine-year-old girl who suffered brain damage during her birth at a government hospital was awarded over RM2.78 mi ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
4

7 weeks ago

Malaysia's total trade in April up 12pc

Jun 5 2014 11:52pm CDT | Source: Business Times Malaysia

KUALA LUMPUR: Malaysia's total trade in April 2014 rose by 12 per cent from a year ago to RM123.86 billion due to growing trading activities, International Trade and Industry Minist ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
3

7 weeks ago

Works Ministry to spend RM20m for upgrading works at 50 accident black spots

Jun 4 2014 11:35pm CDT | Source: Business Times Malaysia

JOHOR BARU: The Works Ministry will implement upgrading works at 50 accident prone locations in the country that have been identified this year involving an alloca ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
2

7 weeks ago

Najib launches loan scheme for Ramadan traders

Jun 4 2014 10:24pm CDT | Source: Business Times Malaysia

PUTRAJAYA: Prime Minister Datuk Seri Najib Razak today launches RM45 million Ramadan Bazaar ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 
Update
1

7 weeks ago

Residents bring up objection against Kidex to Suhakam

Jun 4 2014 4:49am CDT | Source: Business Times Malaysia

PETALING JAYA: A group of 20 Petaling Jaya residents held a meeting with the Human Rights Commission of Malaysia (Suhakam) over their objection against the proposed RM2.2 billion Kinrara Damansara ...
Source: Business Times Malaysia   Full article at: Business Times Malaysia
 

 

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