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Spare Backup Receives Purchase Order for Custom Security Upgrade Valued at $160,000 in Preparation for Mobile Product Launch Scheduled for January 2012 With Major UK Financial Services Organization
Dec 29, 2011 (10:12 AM EST)
Management continues to see current launch schedule with distribution partners leading to profitability in 2012 with earnings in excess of $0.05 per share
MINDEN, Nev., Dec. 29, 2011 /PRNewswire/ -- Spare Backup, Inc. ("Spare Backup") (OTCBB: SPBU), a provider of data backup and security software for smartphones, tablets and PCs, which is carrier and manufacturer agnostic, today announced that it has received a purchase order valued at approximately $160,000 for a custom security upgrade in preparation for its mobile product launch scheduled for January 2012 with a major UK financial services organization (the "Organization").
The upgrades will enable Spare Backup's new websites, portals and interfaces to seamlessly integrate with the specific security standards of the Organization. Spare Backup intends to complete the security upgrade prior to the scheduled January launch of its mobile security to the Organization's banking and insurance customers throughout the UK, numbering in excess of 4 million. Management of Spare Backup continues to see this launch, coupled with various other product launches with its global distribution network leading to profitability in 2012 with earnings per share in excess of $0.05.
"The ability to reach customers within the financial services industry is a key component of our overall marketing strategy. As mobile applications become more sophisticated, the need for mobile security and parental controls grows in tandem," said Cery Perle, President and CEO of Spare Backup. "Customizing our interfaces and encryptions with the unique standards of large scale financial services and insurance companies is critical to our success in this segment of our business. We are confident in the ability of our software team to deliver effective solutions to our distribution partners as we begin our progressive launches and reach out to millions of potential customers in 2012. We continue to see reaching profitability in 2012 as we roll out into Europe and North America in the coming quarters to build a strong recurring revenue base for years to come."
About Spare Backup, Inc.
Spare Backup, Inc. is a leading provider of data backup and security software for smartphones, tablets and PCs. Spare Backup's software enables consumers and small to medium sized businesses to easily protect valuable computer and mobile data quickly, automatically and cost-effectively. Spare Backup software intelligently selects, secures and stores personal and business content on a continuous basis or according to the schedule of the user's choice. It also allows for the integration of that content across various devices and provides enhanced security features to protect valuable data on any lost or stolen devices. Spare Backup software is the first totally automated cloud-based backup service that is distributed on a stand-alone or private label basis through major retail and warrantee service partners in North America and Europe.
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Forward Looking Statements:
This press release contains forward-looking statements that involve a number of risks and uncertainties, including statements regarding the outlook of the Company's business and results of operations. By nature, these risks and uncertainties could cause actual results to differ materially from those indicated. Generally speaking, any statements using terms such as "will," "expect," "anticipate," or "may," or which otherwise predict or address future results or events, are likely to contain forward-looking statements. It is important to note that actual results may differ materially from what is indicated in any forward-looking statement. Readers should consider any forward-looking statements in light of factors that could cause actual results to vary. These factors are described in Spare Backups filings with the SEC, and readers should refer to those filings, including Risk Factors described in those filings, in connection with any forward-looking statements. The Company disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise
SOURCE Spare Backup, Inc.