Boston, MA 05/22/2013 (wallstreetpr) – The share prices of SoundBIte Communications Inc. (NASDAQ:SDBT) had surged by 65.89 percent to close at $4.96 per share for the trading session. Prior to this close, the company had been trading in the range of $4.95 to $4.99 per share, thereby readjusting the 52 week high price to new level. SoundBite Communications Inc. (NASDAQ:SDBT) witnessed extensive trading in its shares with nearly 5.59 million having been exchanged hands while the average trading volume of the company is only 4,306 shares per day.
Financial results
SoundBite Communications Inc. (NASDAQ:SDBT) had recently released its quarterly financial results in which it had registered GAAP revenues of $11.3 million, which was 2 percent increase over the revenues of same quarter in 2012. However, the net loss of the company for the first quarter of 2013 was $1.4 million which dilutes into $0.08 per share. On the other hand, the net loss for the same quarter of 2012 was only $0.02 per share.
SoundBite Communications Inc. (NASDAQ:SDBT) provides cloud based multi channel services to mobile businesses which enable them to design, implement and measure the effectiveness of campaigns related to customer care, marketing, payment and collection processes. The company had been operating on sound basis with high levels of increase in the customer base for mobiles.
The company is now being proposed for an acquisition by Genesys Inc. in which the shareholders would receive $5 per share. This proposed sale of SoundBite Communications Inc. (NASDAQ:SDBT) is being investigated by the securities litigation firm of Powers Taylor, LLP.
