Synchronica, the company which makes email and instant messaging solutions for mobile phones, has seen its share price rocket by 14% this morning following the announcement of a repeat order.
The order from what is described as an "existing Tier-1 mobile device manufacturer" is worth $580,000 of which half is payable immediately with the other 50% due later in 2012.
The revenues from the deal will appear in the 2012 accounts but the cash flow this year will be welcome for Synchronica, which has a market capitlisation of £8.43m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Angus Dent, Synchronica's chief executive, said of the agreeement: "This is our first recurring-revenue order for 2012, and the fact that it's an expansion deal from a worldwide 'top-5' device manufacturer truly sets Synchronica off to a great start.
At 9:37am shares in Synchronica were up 14.81% at 5.31p
BS
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
