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APOLLO ENTERPRISE SOLUTIONS, LTD PROVIDES FULL YEAR 2012 EARNINGS GUIDANCE
Long Beach, CA, U.S.A. – 16 November, 2012 – Apollo Enterprise Solutions Ltd (the “Company”; Ticker: AES.BH), a leading provider of advanced interactive software solutions for banking transactions, provided earnings guidance for the fiscal year 2012 ending 31 December, 2012.
· Expected revenue for full year 2012 of $3.0million, up 53% over fiscal year 2011
· Forecasted loss for the full year 2012 of $1.75 million, an improvement of over $2.4 million from the prior year loss
· Forecasted Earnings/(Loss) of ($0.0345) per share on a fully diluted basis
The expected full year results include 9 months of the predecessor company Apollo Enterprise Solutions, Inc., and 3 months of combined results for AES and its subsidiaries. AES is the survivor company of a reorganization that occurred on October 15, 2012. Full year 2012 Forecast results include expenses related to the reincorporation of the Company in Bermuda, the merger expenses and expenses related to its going public on the Bermuda Stock Exchange (BSX) and secondary listing on the Swiss Stock Exchange (SIX).
“This is a very exciting time for AES as we successfully listed on the Bermuda Stock Exchange (BSX) on November 5, 2012 and expect a dual listing on the Swiss SIX within the very near future", stated Joseph Konowiecki, Chief Executive Officer of Apollo Enterprise Solutions, Ltd. "The offering proceeds will allow us to greatly expand our sales and marketing program in our core areas and continue to expand our product lines. As we further execute on our growth strategy, we expect to deliver strong operating results as well as increased operating efficiencies."
About AES
Apollo Enterprise Solutions, Ltd., with offices in Los Angeles, New York, London, Sydney, and Lugano is home of the patented TRUE™ system, the first total self-service account management system for banks and other financial enterprises. This system broadens the scope of existing online banking systems by enabling consumers to obtain more complex banking and other financial services on a convenient self-serve basis. The TRUE™ system increases collections and recoveries; reduces charge-offs; rapidly activates business rule and other change management initiatives; enhances the customer experience; and reduces operating costs, account attrition rates and roll rates. The TRUE™ system’s modules are highly secure, hosted Software-as-a-Service and Private Cloud applications that integrate into IBM, Oracle, Microsoft and other operating environments, and into a wide range of collections systems of record.
Contact:
Sha’Dona Brewer
Marketing Associate
+41 91 228 0237 or +1 (562) 513-3723
sbrewer@apolloenterprise.com