Synchronoss Technologies (News - Alert), Inc., a company offering transaction management, cloud enablement and connectivity services for connected devices, has announced its financial results for the fourth quarter and full year of 2011.

As per the report, Synchronoss incurred net revenues of $62.2 million on a GAAP basis, which marks an increase of 26 percent compared to the fourth quarter of 2010. Whereas, the Gross profit accumulated is $33.8 million and income from operations was $7 million in the fourth quarter of 2011, according to company officials.

In addition, the company’s GAAP net income applicable to common stock was $8.2 million, leading to GAAP diluted earnings per share of $0.21, compared to a GAAP net loss per share of ($0.09) for the fourth quarter of 2010.

On the whole, Synchronoss achieved a gross profit of $129.3 million in 2011, and gross margin was 56.1 percent, an increase from 53.6 percent for 2010. Income from operations was $52.7 million for 2011, an increase of 44 percent compared to 2010. Operating margin for 2011 was 22.9 percent, an increase from 21.6 percent for 2010. Net income was $38 million for 2011, leading to diluted earnings per share of $0.98, an increase of 40 percent from $0.70 in the prior year.

Speaking on this note, Stephen G. Waldis, founder and chief executive officer of Synchronoss said that the fourth quarter was highlighted by revenue and profitability that exceeded their expectations, and it was a strong finish to a record year for Synchronoss.

“We experienced strong transaction volumes related to smartphones and connected devices which led to increased automation rates and much stronger than expected profitability,” Waldis said. “The fourth quarter provided evidence of the operating leverage created by our connect-synch-activate strategy, and we believe it positions us well to scale our business model as we focus on expanding our on-device presence to hundreds of millions of connected devices in the years ahead.”

In the fourth quarter, Synchronoss acquired a privately-held Miyowa (News - Alert) S.A, a provider of social network and messaging software for mobile devices.

Miyowa integrates well with Synchronoss’ ConvergenceNow Plus+ strategy by incorporating the network address book with social networking. Miyowa also expands Synchronoss presence in Europe to help manage and drive anticipated growth in that region of the world with Vodafone (News - Alert), Orange and other customers.