Mer Telemanagement Solutions has reported a net loss of $31,000, or $0 per diluted share, for the third quarter ended September 30, 2009, compared to a net loss of $222,000, or $0.03 per diluted share, in the third quarter of 2008.
For the third quarter of 2009, total revenues were $3 million, compared with $2.1 million for the same quarter of 2008.
For the nine months ended September 30, 2009, total revenues were $8.7 million, compared to $6.9 million in the same period of 2008. Net loss was $709,000, or $0.08 per diluted share, compared to a net loss of $39,000, or $0.01 per diluted share, in the same period of 2008.
Eytan Bar, CEO of Mer Telemanagement Solutions (MTS), said: "MTS underwent a significant effort implementing a cost reduction plan. The results of this process are reflected in the third quarter financial statements of the company in which the company achieved a positive operating cash flow as well as a small operating profit. In addition to the operational efficiencies efforts, we managed to grow our new orders bookings in the US compared to the first half of the year."