Petel Incorporated (Pink Sheets:PTEI), the Broadband TV and Digital Media specialists, today announce a significant boost in revenue for Quarter 1 2008 with an increase of 82% over Quarter 4 2007.
Further to recent updates of continued growth in registrations and sales for SexQube.TV plus the award of the groups first third party service provision contract the board is pleased to announce that quarter 1 revenues have advanced 82% over the previous quarter.
‘SexQube.TV is now proving itself in terms of a viable customer service with rising sales and a strong trend in repeat customers. The addition of new revenue lines from the provision of third party services is already starting to show results and we look forward to continued growth in revenues for the group’ comments CEO David Morton.
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Petel Incorporated forecasts and business plan are included in the Corporate Overview, published on the Investor Relations page at www.petel.co.uk
This news release contains forward-looking statements that are subject to certain risks and uncertainties that may cause actual results to differ materially from those projected on the basis of such forward-looking statements. The words "estimate," "project," "intends," "expects," "believes," and similar expressions are intended to identify forward-looking statements. Such forward-looking statements are made based on management's beliefs, as well as assumptions made by, and information currently available to, management pursuant to the "safe-harbour" provisions of the Private Securities Litigation Reform Act of 1995. For a more complete description of these and other risk factors that may affect the future performance of Petel, Inc. see "Risk Factors" in the Company's Annual Report on Form 10-KSB and its other filings with the Securities and Exchange Commission. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date made and the Company undertakes no obligation to disclose any revision to these forward-looking statements to reflect events or circumstances after the date made or to reflect the occurrence of unanticipated events.
Petel Inc.
Phil Evans, +44 (0)20 3239 9140
enquiries@petel.co.uk