SOURCE: Mobiform Software, Inc.

Mobiform Software, Inc.

February 01, 2011 09:33 ET

Mobiform Software Issues Annual Report and Posts Significant Revenue Growth

CRYSTAL RIVER, FL--(Marketwire - February 1, 2011) - Mobiform Software (OTCBB: MOBS) confidently looks to the future with pride in the growth achieved in 2010. Today we have filed our annual report on Form 10-K with the SEC. Annual revenue increased by almost ten times, allowing Mobiform to effectively emerge from a Technology Development Stage into a Growth Stage.

In his Letter to Shareholders, Allen Ronald DeSerranno, President & CEO, said, "2010 was a difficult environment for our clients. Many of them slowed spending for major projects and modernization, which makes our growth even more impressive. We entered major multi-year technology license agreements with two Fortune 500 companies. We significantly expanded our international re-seller network in Asia, Europe, the Middle East and North and South America and anticipate that this will have a positive impact on our sales in 2011 and beyond."

Mobiform's revenue is generated from three sources, through retail sales of their HMI and SCADA software products, through licensing of technology to other companies, and through development services and support. Mobiform has developed its own Industrial Control and Monitoring solutions over the past five years. 'Status' is a powerful SCADA (Supervisor Control and Data Acquisition System) software program capable of connecting to real time industrial data and displaying the information in real time to operators, maintenance personnel and supervisors. Mobiform has attracted a number of resellers and system integrators that are now promoting and using 'Status' in commercial settings. Status is now being used to monitor one of the largest subway systems in the world. It is monitoring HVAC performance in pharmaceutical manufacturing facilities in China, railways in Italy, and is on some of the most sophisticated offshore drilling ships in the Gulf of Mexico.

In addition to selling its own software products, Mobiform also licenses the technology it has developed to other software companies. The technology that Mobiform has developed has been licensed to numerous firms including three Fortune 500 companies. These licensing arrangements will provide long term, recurring, royalty based revenue for Mobiform.

The Annual Report can be viewed on our website: www.mobiform.com. In addition we will email a copy upon request. Our report on Form 10-K can be found on the SEC website: www.sec.gov.

Contact Information

  • Mobiform PR Contact:
    Kathleen O'Keefe
    Mobiform Software, Inc.
    Tel: (352) 564-9610
    kokeefe@mobiform.com