F.T.S.-Formula Share Discussion Threads

[moreforus] 11/5/2011 14:09

duplicate maybe so but it was a steal to buy at 11p and no one was....

[corrientes] 11/5/2011 14:08

What tosh; the dying movements of a once not so great company. They need to tell us their plans, if they have any.

[duplicate book] 11/5/2011 14:07

moreforus..........16p for FTS is a pittance! This stinks big time and I would imagine there are some large holders here who average into the 20p or even 30p range!!

[moreforus] 11/5/2011 14:07

thx tara

your boyfriend robson is deramping again...

mm's too a minute to read the rns before they put the shutter down

[tara7] 11/5/2011 14:06

Well done you got at 11p for a very good free profit.!!

[corrientes] 11/5/2011 14:03

Whose doing the stealing ?

[moreforus] 11/5/2011 14:02

fool

corrientes - 4 Apr'11 - 18:53 - 284 of 286 (Filtered)

corrientes - 11 May'11 - 14:01 - 285 of 286 (Filtered)


just got some at 11p....

[duplicate book] 11/5/2011 14:01

16p !!!!!! Thats a steal.

[corrientes] 11/5/2011 14:01

Some movement !

[corrientes] 04/4/2011 18:53

Until they come up with a new direction its headed to oblivion. I'm amazed a management buyout hasn't been mentioned, but maybe there are other plans.

[moreforus] 04/4/2011 10:04

getting...

[duplicate book] 04/4/2011 09:50

Ouch!! £1100.00 sell knocks 12% off the value of the Company. Now thats what you call an illiquid stock :o)) Anybody tempted to buy more?

[oakville] 14/3/2011 21:55

I'm in at these levels. I can afford to wait rather than follow the herd about !

[andrbea] 14/3/2011 08:44

up 19% on PLUS

[duplicate book] 09/3/2011 12:55

Pretty bullish sounding. Sounds like a few more deals on the cards to be announced in due time too.

[moreforus] 09/3/2011 12:50

Annual Financial Report
TIDMFTS

RNS Number : 6263C

F.T.S-Formula Telecom Solutions Ltd

09 March 2011

F.T.S. - FORMULA TELECOM SOLUTIONS LTD.

AND ITS SUBSIDIARIES

(An Israeli Corporation)

CONSOLIDATED FINANCIAL STATEMENTS

AS OF DECEMBER 31, 2010

Directors

Dan Goldstein, Non-executive Chairman

Amos Sivan, Active Vice Chairman

Ronnen Yitzhak, Non-executive Director

Eliyahu Shushan, Non-executive Director

Yael Hershtik, Non-executive Director*

David Joel Rubin, Non-executive Director*

John Robert Camber Porter, Non-executive Director*

* Independent directors

Company Secretary:

Alon Raz (Chief Financial Officer)

Registered office:

8 Maskit Street

Herzliya 46120

Israel

Chairman's Statement

I am pleased to report FTS' 2010 annual results for the twelve months to 31 December 2010.

FTS develops and sells advanced billing & customer care, policy control and infrastructure software solutions for communications service providers. Our solutions enable providers to address the key issues of today's communication market: customer retention and revenue growth. By analyzing events from a business standpoint rather than just billing them, FTS allows providers to better understand their customer base and leverage business value from every event and interaction. FTS deploys its full range of solutions to customers worldwide and has implemented solutions in wireless, wire-line, cable, content and broadband markets. The Company targets operators in emerging markets with end-to-end billing and customer solutions, as well as tier-1 & tier-2 operators in developed markets with add-on billing, charging and policy control solutions.

The telecoms market is evolving with the growth in both wireline and wireless broadband (WiMAX, LTE) IP-based communication and continuing consolidation in the market. In response to market changes, providers are restructuring their businesses and aligning vendors to their future needs. This is both a challenge and long-term opportunity for FTS. FTS predicted these transformations in the industry and has been working aggressively to adapt the Company to the new market environment, as well as developing new products and services that meet the customers' ever-changing requirements.

In today's telecoms market, operators, and especially mobile operators, are faced with unprecedented rapid growth rates in data traffic, following the increased use of smartphones as well as the availability of attractive eat-all-you-can flat-rate plans. As a result, service providers, which need to ensure the capacity and the quality of service on their networks, are faced with increasing costs, which are growing faster than data services revenue growth. As a response, operators worldwide are increasingly deploying policy control tools. Policy control enables operators to control a specific customer's experience, using traffic-management techniques and based on that customer's subscriber profile. As wireless operators head to all-IP networks, we expect the demand for policy control solutions to grow rapidly. FTS' Leap Policy Control is pre-integrated with charging, billing and subscribers' data, thereby enabling monetization of data services and the policy management tools.

FTS' Leap Policy Control is deployed worldwide, either as a stand-alone solution which resides side-by-side with the operator's existing billing system, or as a part of a full, end-to-end billing environment provided by FTS.

Leap Billing is an end-to-end converged solution based on business processes that reflect the industry's best practices. The solution allows new business practices to be instantly implemented and new services, bundles and promotions to be rolled out immediately, without involving costly billing integration projects. In this way, billing is no longer the traditional bottleneck for launching new services. Instead, with Leap Billing, the service provider's billing system becomes a business enabler for offering new marketing plans or services, with a rapid time-to-market. Leap Billing offers a long-term, viable solution to the ever-evolving needs of telecom providers.

At the beginning of 2009 FTS introduced "FTS express", a billing software appliance with "out of the box" functionality, specially tailored for small operators and Greenfields (ISP, VoIP, WiMAX, LTE, IPTV and content providers) as well as for niche services of larger service providers. FTS express is mainly offered through 3rd party partners, including global and regional systems integrators, value added resellers and technology partners.

On December 10, 2010 PAETEC Holding Corp. (NASDAQ GS: PAET), a FORTUNE 1000 company, and FTS announced that PAETEC's wholly-owned subsidiary, PAETEC Software Corp. had signed a definitive agreement to acquire the entire assets and assume certain liabilities of Formula Telecom Solutions, Inc., a wholly-owned subsidiary of FTS, in a $13 million all-cash transaction. The acquisition included the Leap RevChain billing system which PAETEC has been using to deliver its invoices to customers for over 12 years. The transaction was completed on December 27th, 2010.

FTS bought FTS Inc., in December 2005 and ran the business, which primarily targeted service providers in the North American market, successfully and profitably until the sale to PAETEC.

The sale of FTS Inc.'s assets is evidence of FTS' experience in identifying market needs and trends, operating successfully in diverse markets and offering unique solutions for the billing industry. Following the sale of FTS Inc., FTS continues to offer solutions that will assist leading carriers worldwide to increase both revenues and customer satisfaction, as well as use their BSS as an enabler to drive the creation of new products and services. Market interest in the Company's products is leading to new bid proposals. It is expected that some of these bids will materialize into contracts in 2011, although due to the global economic situation as well as the BSS industry's typical long sale cycles it might take longer than initially expected.

Results

In the twelve months to 31 December 2010 total revenue was $10,502m (2009: $12,324m), the decrease of 14.7% was mainly due to longer implementation processes than originally expected primarily caused by the global economic situation.

Gross profit for the twelve months to 31 December 2010 was $2,520m (2009: $3,320m), gross margin was 23.9% compared to 26.9% in 2009.

Research and development expenditure: In the twelve months to 31 December 2010 was $1,045m (2009: $1,830m), a decrease of 42.9%. This decrease was mainly due to diversion of R&D efforts towards delivery of projects and reduction of the headcount.

Sales and marketing costs in the twelve months to 31 December 2010 were $1,299m (2009: $2,163m), a decrease of 39.8% mainly due to fewer commissions paid to agents in light of the decline in the sales and reduction of the headcount.

General and administrative costs in the twelve months to 31 December 2010 were $2,467m (2009: $3,554m), a decrease of 30.6%. This decrease was mainly due to provisions for doubtful debts and provision for other expenses.

The Company's operating loss in the twelve months to 31 December 2010 was $2,291m (2009: operating loss of US$4,227m), the main reason for the reduction in the loss is due to the reduction in all items of expenses.

The net financial income, net for the twelve months to 31 December 2010 were $0.278m (2009: financial income, net of $0.533m) which mainly resulted from gains from securities and bonds and difference of exchange rates.

The tax expenses for the twelve months to 31 December 2010 were $1,496m (2009: tax expenses of $3,292m). The tax expenses were resulted mainly from writing off tax assets.

The net income from discontinued operations for the twelve months to 31 December 2010 was $9,345m (2009: net income from discontinued operations of US$1,715m).

Total comprehensive income for the twelve months to 31 December 2010 was $5,280m (2009: total comprehensive loss of $5,271m). The majority of the income is due to income gain from selling the activity of the North American subsidiary.

Outlook

The Telecom industry, as part of the global market, is experiencing a global economic slowdown which creates challenges for BSS vendors. However, FTS has taken positive steps to adjust its business to the needs of its customers, and has reached a minimal negative EBITDA of just $0.409m, despite challenging market conditions.

We believe that our extensive, ongoing efforts will result in increased revenues and profitability in forthcoming years.

The Company is involved in a number of bid proposals which are at various stages of the sales cycle. We expect some of these to crystallize into contracts in the near future although it is difficult to predict the exact timing.

We also believe that our online charging and policy control solutions and the FTS express software appliance will enable us to further penetrate into the Tier-1 service providers markets, for their niche services. We expect to obtain growth in the future, based on our extensive pipeline and consolidated roadmap of products and solutions.

Dan Goldstein

Chairman

F.T.S - FORMULA TELECOM SOLUTIONS LIMITED

[oilbagger] 25/2/2011 18:09

The plot thickens
Selftrade says its not there fault as their Custodian Equiniti didn't receive a cheque from Computashare and have asked for it to be re-issued. Why it has taken so long is anyone's guess.
I have emailed Computashare and they informed me that they issue cheques to nominees who have not provided banking details to them. Computashare have said that only one cheque for the FTS dividend remains to be presented for payment. They didn't have Equiniti as a nominee so I have asked Selftrade which nominee name Equiniti use to see if it matches.
So in the age of electronic banking it would make sense to register banking detais with registrar; why I need to point this out to Selftrade is infurating.
Their claim that it is not their fault makes it worse especially when this has happened before. Whether it is them or their suppliers it is their responsibility to provide an efficient service. It's not that hard!!

[johnamill] 20/2/2011 22:20

Thanks for that Oilbagger, I too could have used the money but have missed the opportunity!!