Synchronica rockets on repeat order

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.

Start your trial of MoneyWeek today

Get unparalleled financial insight, analysis and expert opinion you can profit from.

Start your trial

Sign up for MoneyWeek’s free twice-daily newsletter.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Join more than 165,000 subscribers and keep yourself informed with latest financial news, insights and expert analysis to help you understand what really matters when it comes to your finances.

Sign up

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