Message #3 From:
NewsBot Date: March 24, 2005 12:05:30 PM
SKYC SkyLynx Experiences Growing Interest in Vehicle Tracking Systems; With Deployment of FlexNet, All of Company's Subsidiaries Are Generating Revenues
SkyLynx Experiences Growing Interest in Vehicle Tracking Systems; With Deployment of FlexNet, All of Company's Subsidiaries Are Generating Revenues
SARASOTA, Fla.
SkyLynx Communications, Inc.
Gary Brown, 941-388-2882
or
The Wall Street Group, Inc.
Ron Stabiner, 212-888-4848
SkyLynx Communications, Inc. , a data wireless network provider for mobile and static applications, today reported growing interest in the Company's vehicle tracking capabilities following the deployment of its FlexNet system to ambulance services in two major cities.
"With the previously announced deployment of our Automatic Vehicle Location (AVL) data wireless dispatch and tracking systems to a key ambulance service provider in the Denver, Colo., and Tacoma, Wash., areas, we are penetrating a significant new market," stated Chief Executive Officer Gary Brown. "Although revenues are modest, we are pleased that all three of our business units now are generating sales."
Mr. Brown also reported an increase in revenues at the Company's two other subsidiaries: the SkyLynx high-speed broadband service based in San Jose, Costa Rica, and the NetAssets internet service provider located in Fresno, Calif., which offers wireless DSL and T1 high-speed connections.
"Following the Denver and Tacoma installations, we found that many potential customers currently are dissatisfied with their current provider and were not aware that SkyLynx offers a versatile, low-cost alternative to existing systems," Mr. Brown said. "The deployment of our system in the Denver area was even more successful than we anticipated and we are stepping up SkyLynx' expansion program."
Mr. Brown noted that there here are approximately 20 million vehicles in the U.S. that qualify for AVL systems, a market that represents a significant opportunity for SkyLynx. "With that in mind, we are targeting new markets around the country and are preparing demo units for our sales team so that potential clients can experience first hand the functionality and simplicity of our low-cost Internet-based interface," he stated.
SkyLynx' unique FlexNet two-way digital vehicle tracking systems for first responder emergency vehicles, trucking company fleets and utility vehicles for business and industry operates over VHF frequencies licensed to the Company and has key advantages over satellite and cellular tracking systems. FlexNet's lower-band signal bends around buildings, is not affected by topography and has a range many times greater than those of cellular and third-generation (3G) wireless systems. FlexNet also costs less than half of the price charged by competitive satellite services and is less expensive than many terrestrial mobile wireless data systems.
About SkyLynx
SkyLynx Communications, Inc. is a provider of data wireless services for vehicle tracking and data communications for mobile and static applications. Their wireless network is being deployed on a national basis and has been well received for its ability to provide broad geographic coverage cost effectively. The company's network has the ability to track vehicles is not affected by topography, buildings, trees or other hindrances to line-of-sight tracking; it has a range many times greater than that of cellular and 3G systems; and it costs significantly less than satellite tracking.
SAFE HARBOR PROVISION
Certain matters discussed in this press release are "forward-looking statements" intended to qualify for the safe harbors from liability established by the Private Securities Litigation Reform Act of 1995. In particular, the Company's statements regarding trends in the marketplace and potential future results are examples of such forward-looking statements. The forward-looking statements include risks and uncertainties, including, but not limited to, the timing of projects due to the variability in size, scope and duration of projects, estimates made by management with respect to the Company's critical accounting policies, regulatory delays, clinical study results which lead to reductions or cancellations of projects, and other factors, including general economic conditions and regulatory developments, not within the Company's control. The factors discussed herein and expressed from time to time in the Company's filings with the Securities and Exchange Commission could cause actual results and developments to be materially different from those expressed in or implied by such statements. The forward-looking statements are made only as of the date of this press release and the Company undertakes no obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.
