Numerex (News - Alert) Corp, a provider of business services, technology and products for the worldwide machine-to-machine (M2M) market, announced financial results for its first quarter which ended March 31, 2011.

Numerex’s subscriptions increased by 25 percent to 1,224,000 during the first quarter of 2011, compared to 977,000 registered at the end of the first quarter of 2010.

In the first quarter ending, the company added 53,000 net subscriptions, as compared to 40,000 net subscriptions in the first quarter of 2010.

Consolidated revenue of Numerex went up marginally to $13.8 million from $13.0 million in the first quarter of 2010. During the quarter ending March 31, 2011, Numerex clocked service revenues of $9.2 million and hardware revenues of $4.6 million compared to $8.2 million in service revenues and $4.8 million in hardware revenues, respectively, during the same period in 2010.

“Numerex is poised to benefit from the commercialization of key projects, recently forged alliances with M2M industry leaders, and new product launches,” said Stratton Nicolaides, chairperson and CEO of Numerex, in a statement.

“We continue to invest in our Business Solutions client programs with new hires and state-of-the-art infrastructure required to meet anticipated demand from wireless operators and global enterprise groups. We believe that our focus on scaling our M2M service platforms will allow us to pursue additional growth opportunities and result in improved operating leverage,” Nicolaides added.

During the first quarter, the company announced a co-marketing agreement with Tekelec, a mobile broadband solutions company, to deliver intelligent M2M solutions to global service providers.

The other initiative was Numerex’s agreement with Enfora (News - Alert), a subsidiary of Novatel Wireless, to enable Intelligent Global Pooling Systems to offer global monitoring of its innovative all-plastic pallets with embedded RFID tags through the use of the Numerex WorldPass global network service.

Recently Numerex announced it entered into a long-term agreement with Rogers Wireless, Canada’s wireless provider, for expanding Numerex’s M2M business in Canada.  The agreement will allow the extended capabilities to Numerex customers like access to General Packet Radio Service and High-Speed Downlink Packet Access.

Rajani Baburajan is a contributing editor for TMCnet. To read more of Rajani's articles, please visit her columnist page.

Edited by Carrie Schmelkin