Numerex Corp. (Nasdaq: NMRX) announced financial results for its fourth quarter and full year ended December 31, 2009. Key metrics for the fourth quarter and full year of 2009 include:

• Digital subscriptions increased to 937,000 at the end of the 2009. This compares with 701,000 recorded at the end of 2008, reflecting a 34% growth rate. 93,000 net subscriptions were added during the fourth quarter and 236,000 during the full year 2009
• Total consolidated revenues during the fourth quarter and full year of 2009 were $14.0 million and $50.8 million, respectively
 
• During the fourth quarter and full year 2009, service revenues as a percent of total M2M revenues were 57.6% and 58.5%, respectively, compared to 50.1% and 39.2% during the same periods last year
• Gross margins improved to 44.6% and 44.0% during the fourth quarter and full year of 2009, respectively
• Adjusted EBITDA, excluding stock-based compensation expense and legal fees related to litigation, during the fourth quarter and full year of 2009 was $1.6 million and $4.4 million, respectively, compared to $0.8      million and $5.2 million during the same periods last year. A reconciliation of GAAP to non-GAAP results has been provided in the financial tables included in this press release
• Numerex ended 2009 with $5.3 million in cash equivalents and $0.5 million in structured debt. In January 2010, the remaining $0.5 million in structured debt was repaid
 
• Net cash position and debt-to-equity ratio improved during the full year 2009 after retirement of $10 million in structured debt