SOURCE: One Horizon Group, Inc.
BAAR, SWITZERLAND--(Marketwire - Feb 14, 2013) - One Horizon Group, Inc. (OTCQB: OHGI) today announced that it filed an 8-K amendment with the Securities and Exchange Commission which includes Financial Statements of its wholly owned subsidiary One Horizon Group Plc ("OHGP").
The audited financial statements of OHGP for its fiscal year ended 30 June 2012 show profit after taxation from continuing operations of $13.5 million generated from revenues for the period of $19.7 million. EBITDA for the same period was $15.9 million. OHGP's revenues are made up primarily of sale of software licenses for its Horizon VoIP platform for smartphones. Its customers include leading mobile operators across the globe that are actively seeking ways to stem the loss of profits due to OTT (Over The Top) applications being used on their mobile data networks. The 8-K amendment also includes pro form financial statements combining the company and OHGP for the period ended September 30, 2012.
"OHGP's financial results for fiscal 2012 show strong year on year growth," stated Mark White, the Company's CEO. "We continue to see growing interest from mobile operators for our Horizon solution which is expected to provide a whole new range of revenue opportunities for our company," added Mr. White.
About One Horizon Group
One Horizon Group Inc.'s business is to optimize communications over the Internet. It is the parent company of Horizon Globex GmbH. Horizon Globex develops the Horizon solution, which is one of the world's most bandwidth-efficient mobile VoIP platform for smartphones, and also offers a range of other optimized data applications including messaging and mobile advertising. Horizon Globex is an ISO 9001 and ISO 20000-1 certified company. The Company has operations in Switzerland, UK, China, Russia, India, Thailand, and Singapore. For more information on the Company, its products and services, please visit http://www.onehorizongroup.com.
Safe Harbor Statement
This news release may contain "forward-looking" statements. These forward-looking statements are only predictions and are subject to certain risks, uncertainties and assumptions that could cause actual results to differ from those in the forward looking-statements. Potential risks and uncertainties include such factors as uncertainty of consumer demand for Company's products, as well as additional risks and uncertainties that are identified and described in Company's SEC reports. Actual results may differ materially from the forward-looking statements in this press release. Statements made herein are as of the date of this press release and should not be relied upon as of any subsequent date. Company does not undertake, and it specifically disclaims, any obligation to update any forward-looking statements to reflect occurrences, developments, events, or circumstances after the date of such statement.