WLSA Wireless Age Announces Earnings During First Quarter 2005
Wireless Age Announces Earnings During First Quarter 2005
TORONTO
Wireless Age Communications, Inc.
John Simmonds
Chairman & C.E.O.
(905) 773-3529 ext 223
OR
Wireless Age Communications, Inc.
Gary Hokkanen
Chief Financial Officer
(905) 773-3529 ext 218
OR
Wireless Age Communications, Inc.
Brad Poulos
President
(905) 363-1012 ext 223
OR
Martin E. Janis & Company, Inc.
Beverly Jedynak
(312) 943-1100 ext. 12
Wireless Age Communications, Inc. (OTCBB:WLSA)
Conference Call Scheduled for May 19, 2005
Wireless Age Communications, Inc. (OTCBB:WLSA), a leading supplier of solutions to the Canadian wireless communications industry, today reported its financial performance for the first quarter, ended March 31, 2005.
The company\'s Chairman and CEO, John Simmonds commented, \"As a result of strong growth in our Retail and Wholesale segments, and the acquisition of mmwave late in the quarter, we achieved revenues of approximately US$4.0 million. Sales during the quarter were up 35% from the first quarter of 2004. We are confident that the continued focus of our management team on earnings from all of our business units, along with an aggressive organic growth plan will allow us to continue to grow earnings considerably.\"
\"We posted positive earnings of $0.004 per share for the quarter and began to execute in earnest the integration of mmwave and our various wholesale operations into a cohesive and efficient business unit. The resulting operational savings will also contribute positively to earnings in the future\", said Brad Poulos, Wireless Age President. \"We are also working to simplify the business and squeeze out every possible opportunity to leverage capabilities in one division to customers in the others.\"
Company CFO Gary Hokkanen stated, \"I\'m particularly proud of the year over year improvement in EBITDA. EBITDA during the first quarter of fiscal 2004 was loss of approximately $92,000; during the first quarter of 2005 we achieved EBITDA of over $210,000. The turnaround is attributed to strong growth in the existing retail and wholesale business segments, a solid contribution from the mmwave acquisition, and substantially lower interest costs. The first quarter tends to be the weakest, particularly in our retail segment - I anticipate even better EBITDA results as the year transpires.\"
Three Months Ended
March 31,
Summary financial information (unaudited): 2005 2004
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Sales including commissions and residuals $3,991,559 $2,956,862
Total gross profit 1,458,703 988,685
Selling and administrative expenses 1,242,158 1,116,819
Earnings (loss) from operations 206,545 (128,134)
Net income (loss) $107,344 $(257,941)
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Basic earnings (loss) per share $0.004 $(0.01)
Diluted earnings per share $0.004 -
An investor conference call will be held at 4:15 p.m. Eastern
Standard Time on Thursday, May 19, 2005. Wireless Age\'s CEO, CFO and
President will host the call.
Interested parties may hear the conference call by telephone.
Instructions for hearing the conference call:
To hear the conference call as it takes place:
Call 1-800-434-1335 in the United States or Canada or;
Call 1-404-920-6620 in the Atlanta Area or Internationally
Pin Code: 961023
Exclusive: For Expedited Entry into the Conference:
Please register via this link for your Direct Access 800 number.
www.accuconference.com/WLSA
To hear a recording of the call (available immediately following the
call by telephone for 30 days after the call takes place):
Call 1-800-977-8002 in the United States or Canada or;
Call 1-404-920-6650 in the Atlanta Area or Internationally
Pin Code: Press the asterisk button then 961023
About Wireless Age Communication Inc.
Wireless Age Communications Inc. operates three Strategic Business Units (SBUs). They consist of Wireless Age for the retail sector, Wireless Source covering wholesale/distribution and Wireless Works is the Company\'s networks and engineering division.
Wireless Age retail outlets market and sell next generation wireless products and services. Wireless Source distributes prepaid phone cards, wireless accessories, land mobile radios, batteries and ancillary electronics products throughout North America. Wireless Works operates broadband public access and private networks and develops and deploys consumer and commercial products for use on those networks.
mmwave is a distributor, systems integrator and representative of wireless, microwave and fibre optic components, test systems and subsystems. The company provides a range of technical solutions to the Canadian and select international markets - primarily in the manufacturing and service provider segments of the communications industry. The company is a recognized leader in the community broadband industry in Canada and is a member of the WiMax forum, as well as a very active member of the Canadian Wireless Telecommunications Association.
Wireless Age\'s retail operations (Wireless Age) are conducted through its majority owned subsidiary Wireless Age Communications Ltd. Wholesale/distribution operations (Wireless Source) are conducted through its wholly owned subsidiaries mmwave Technologies Inc., Wireless Source Distribution Ltd., Marlon Distributors Ltd., Prime Wireless Corporation and the A.C. Simmonds and Sons operating division. Networks and engineering operations (Wireless Works) are conducted through agreements with Knowlton Pass Electronics Inc. and Maxtel Wireless Inc.
Wireless Age has an investment in Azonic Corporation which plans to market low cost, wireless devices including cellular phones. One such phone is designed to be located in glove boxes, first aid kits and emergency supply packages and used for emergency purposes. Another is a prepaid wireless phone designed to be used in the low cost and short-term usage markets.
For additional information about Wireless Age Communications Inc. or its subsidiaries, please visit our website at www.thewirelessage.com or review our periodic filings with the Securities and Exchange Commission at http://www.sec.gov.
This press release contains \"forward-looking statements\" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on currently available competitive, financial and economic data and management\'s views and assumptions regarding future events. Such forward-looking statements are inherently uncertain. Wireless Age Communications, Inc. cannot provide assurances that the matters described in this press release will be successfully completed or that we will realize the anticipated benefits of any transaction. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to: global economic and market conditions; the war on terrorism and the potential for war or other hostilities in other parts of the world; the availability of financing and lines of credit; successful integration of acquired or merged businesses; changes in interest rates; management\'s ability to forecast revenues and control expenses, especially on a quarterly basis; unexpected decline in revenues without a corresponding and timely slowdown in expense growth; our ability to retain key management and employees; intense competition and our ability to meet demand at competitive prices and to continue to introduce new products and new versions of existing products that keep pace with technological developments, satisfy increasingly sophisticated customer requirement and achieve market acceptance; relationships with significant suppliers and customers; as well as other risks and uncertainties, including but not limited to those detailed from time to time in Wireless Age Communications, Inc.\'s SEC filings. Wireless Age Communications, Inc. undertakes no obligation to update information contained in this release. For further information regarding risks and uncertainties associated with Wireless Age Communications, Inc.\'s business, please refer to the risks and uncertainties detailed from time to time in Wireless Age Communications, Inc.\'s SEC filings.
Wireless Age Communications, Inc. (OTC Bulletin Board:WLSA)
