Wave Wireless Renews Agreement with Large European Customer to Refurbish Tel-Link Radios Company Receives $2.5 Million Purchase Order
SAN JOSE, Calif., Jan 09, 2006 /PRNewswire-FirstCall via COMTEX/ -- Wave Wireless Corporation (OTC Bulletin Board: WVWC - News), a provider of wireless broadband solutions for mobile and fixed networks for global telecom, enterprise, security, surveillance and public safety applications, today announced it has received a purchase order for approximately $2.5 million from a large European customer for repair and maintenance services to be provided throughout 2006.
The company's repair and maintenance business involves the sale of refurbished Wave Wireless Tel-Link radios to replace existing radios requiring repair and maintenance. The agreement announced today renews an existing agreement through December 31, 2006 between Wave Wireless and a large European telecom operator. The purchase order was from a carrier that has been a Wave Wireless customer since 1994.
"Our repair and maintenance business remains one of Wave Wireless' strengths, and we're pleased to extend the agreement with one of our largest European customers," said Don Meiners, President of Wave Wireless. "This agreement, together with the extension of another repair and maintenance agreement announced during the fourth quarter of 2005, provides some stability to our revenue stream throughout 2006."
About Wave Wireless Corporation
Wave Wireless develops, manufactures, and markets highly secure and reliable wireless mesh routers to the telecommunications market worldwide. The Company's wireless mesh routers are designed to combine high performance, multiple operating frequencies and hardware AES encryption to provide networking professionals with the most flexible, scalable and robust mesh routers for integrated network requirements of Internet access and private networks including security and surveillance requirements. Cellular and personal communications service (PCS) providers utilize the Company's repair and maintenance business for a full range of services required to support technical issues associated with the installation, maintenance and operation of refurbished legacy Wave Wireless licensed products. For more information visit wavewireless.com or call 408-943-4200 Safe Harbor Statement
This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including statements related to anticipated revenues, expenses, earnings, operating cash flows, the outlook for Wave Wireless' markets and the demand for its products. Factors that could cause Wave Wireless' actual results to differ materially from these forward-looking statements include the Company's ability to achieve positive cash flow; the Company's deteriorating cash position and its need to raise additional capital, and whether that capital is available on acceptable terms, if at all; the continued intense competition resulting in lower average selling prices; fluctuations in customer demand; reliance upon subcontractors; the timing of new technology and product introductions; and the risk of early obsolescence; and the Company's dependence on the sale of refurbished licensed radio products. Please refer to our reports and filings with the Securities and Exchange Commission, including our reports on Form 10-K, 10-Q and 8-K, for a further discussion of these risks and uncertainties. We also caution you not to place undue reliance on forward-looking statements, which speak only as of the date they are made. We undertake no obligation to update publicly any forward-looking statements to reflect new information, events or circumstances after the date they were made or to reflect the occurrence of unanticipated events.
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