Ringtone provider LiveWire Mobile swung to a profit in its fourth quarter and managed to narrow its full year losses on an uptick in managed service revenues and cost cutting efforts.
The company made $1.5 million in the fourth quarter on a 24 percent increase in sales, which hit $4.4 million. Last year, LiveWire Mobile lost $33.1 million as it struggled to make a profit as a stand-alone company. The company was spun off from NMS Communications Corp. in December 2008 in a sale to Dialogic.
For the full year 2009, the company narrowed its losses to just $2.36 million, compared to losses of $58.37 million the previous year. LiveWire Mobile posted full-year sales of $16.81 million, a slight increase from last year's sales of $15.6 million.
The company's improved earnings come after an extensive restructuring that happened in the wake of its sale to Dialogic. LiveWire Mobile CEO Matthew Stecker said in a statement that the company's cost-cutting efforts positioned the company for long-term growth, especially in international markets.