Augme Technologies (OTC: AUGT) whispered its earnings preview today for the second quarter of FY 2013 that ended on August 31, 2012. The company expects revenues for the quarter to come in a range from $6.1 million to $6.3 million and over $11 million for the first half of the fiscal year. Year-over-year comparisons show a 48% increase in pro forma revenues. New order booking grew by 21% from the first quarter of this fiscal year, with existing customers accounting for over 70% of the new orders received.
Traders initially welcomed the news enthusiastically as buyer bid share prices nine cents higher than the closing print on Wednesday. The opening trade of $1.39 also marked the high for the day. Sellers took control after the opening minutes and drove the stock down until an hour before lunchtime where shares traded at an intraday low of $1.25. Shares briskly exchanged hands around noon on the east coast and the stock rebounded toward the high of the day. Buyers and sellers calmed down a bit in the afternoon and share prices drifted in a narrow range between $1.30 and $1.35. On the closing bell, shares of Augme Technologies registered a 3% gain on the day to finish the trading session up four cents at $1.34. Volume was relatively heavy for the stock with 685,000 shares exchanging hands versus the 277,000 shares traded on an average day.
The company also announced today that it will be presenting at the ThinkEquity 9th Annual Growth Conference scheduled for September 13, 2012, in New York City. Paul Arena, the CEO of Augme Technologies, President Ivan Baker, and Chief Technology Officer, Nathan Bradley, will represent the company.
Shares of Augme Technologies have given traders a roller-coaster ride over the last year. Twelve months ago, the stock traded at an annual high of $3.58. By the time the New Year arrived, shares had kissed their 52-week low when they were exchanged at a price of $1.17. The stock popped above $2.00 in the spring and wilted again in the hot summer months. The stock experienced a brief rally toward the end of July, which ended on the news of a summary judgment concerning a patent infringement suit against Yahoo (NASDAQ: YHOO). Traders must decide whether the fall season will splash the stock with green or red.
Newsletter promotions on Augme Technologies have been silent since July. A full listing of newsletters on the stock can be viewed on Stockreads.com. A total of three stock promotions are shown on Stockpromoters.com with no one touting the stock since last year at this time. Several comments on the stock hit Twitter today, including @The Stock 411 and @Stockstobuy.
Augme Technologies provides mobile marketing technologies that enable advertising agencies and media companies to integrate promotions through the Internet. The company gives marketers the ability to create, test and track mobile marketing programs across every mobile channel. The New York City-based company was founded in 1999.
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