BONN, GERMANY--(Marketwire -07/24/12)- Elephant Talk Communications Corp. (ETAK) (www.elephanttalk.com), an international provider of software and services to the telecommunications and financial services industries, today announced that it has successfully completed the activation of approximately 4,000 SIM-Cards associated with a recently signed contract with one of Germany's largest unions. This initial activation represents the first batch of SIMs to be activated. The Company expects to activate a total of 55,000 SIMs by year's end.
Based on the planned rollout and the current 1 EUR to 1.21 USD exchange rate, Elephant Talk expects to generate approximately $8 million in total revenue for 2012. Approximately half of this revenue will be recognized on the Company's income statement, with approximately 50% recorded as deferred revenue on its balance sheet to be recognized over the 24 month life of each activated SIM.
"We're very excited and proud to service one of the largest closed user groups in Germany with our world-class solutions," stated Steven van der Velden, Chief Executive Officer of Elephant Talk Communications. "This is a positive sign of things to come as we enter the German market, and we look forward to working with this customer to complete the rollout while also pursuing additional, similar opportunities in the region."
"Our implementation team clearly showed their strong capabilities by completing this project in such a short period of time," said Martin Zuurbier, Chief Technology Officer of Elephant Talk Communications. "This project shows the operational excellence of Elephant Talk to quickly adapt to any type of Virtual Mobile business case."
About Elephant Talk Communications
Elephant Talk Communications Corp. (ETAK) (www.elephanttalk.com) is an international provider of software and services developed to manage network, billing and systems infrastructure for the telecommunications industry. The Company enables both mobile carriers and virtual operators to offer a full suite of products, delivery platforms, support services, superior industry expertise and high quality customer service without substantial upfront investments from clients. Elephant Talk provides global telecommunication companies, mobile network operators, banks, supermarkets, consumer product companies, media firms, and other businesses a full suite of products and services that enables them to fully provide telecom services as part of their business offerings. The Company offers various dynamic products that include remote health care, credit card fraud prevention, mobile internet ID security, multi-country discounted phone services, loyalty management services, and a whole range of other emerging customized mobile services. For more information, visit (www.elephanttalk.com).
Certain statements contained herein constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may include, without limitation, statements with respect to the Company's plans and objectives, projections, expectations and intentions. These forward-looking statements are based on current expectations, estimates and projections about the Company's industry, management's beliefs and certain assumptions made by management. Readers are cautioned that any such forward-looking statements are not guarantees of future performance and are subject to certain risks, uncertainties and assumptions that are difficult to predict. Because such statements involve risks and uncertainties, the actual results and performance of the Company may differ materially from the results expressed or implied by such forward-looking statements. Given these uncertainties, readers are cautioned not to place undue reliance on such forward-looking statements. Unless otherwise required by law, the Company also disclaims any obligation to update its view of any such risks or uncertainties or to announce publicly the result of any revisions to the forward-looking statements made here. Additional information concerning certain risks and uncertainties that could cause actual results to differ materially from that projected or suggested is contained in the Company's filings with the Securities and Exchange Commission (SEC), copies of which are available from the SEC or may be obtained upon request from the Company.
- Elephant Talk
+44 (0)20 7839 4321
+1 212 754 5479
Elephant Talk Communications
The Blueshirt Group
+1 415 489 2184