Another WTT-like undiscovered company:
ANTM getting discovered today on great revenue growth and execution of new wireless plan. 2 News releases today, hasn't run much yet but volume is building:
Friday March 10, 8:00 am Eastern Time
Company Press Release
Antennas America Reports 56% Increase in Revenues
WHEAT RIDGE, Colo.--(BUSINESS WIRE)--March 10, 2000-- Antennas America, Inc. (OTCBB:ANTM - news) today announced financial results for the fiscal year ended December 31, 1999.
Net sales for the fiscal year ended 1999 increased 56% to $4,567,531 as compared with $2,926,728 for 1998. The Company also reduced its loss from operations from $297,215 in 1998 to $116,844 in 1999 with a net loss of $572,388 as compared with a net loss of $244,726 for 1998. The 61% improvement in the Company's reported operating results is attributable to an 8% decrease in general and administrative expense despite an increase of $56,000 in research and development costs and the Company's having incurred $57,000 of legal fees associated with a lawsuit filed by the Company against one of its competitors. This lawsuit has now been settled. The increased net loss is attributable to the previously announced third quarter recording of a non-cash, non-recurring valuation allowance expense of $389,000 against a previously recorded deferred tax asset.
The 56% increase in revenues in 1999 is primarily attributable to the increase in sales of the new local TV antennas. The increased sales of the local TV antennas, which have a lower gross margin than many of the Company's other products, also resulted in a decrease in gross sales margins from 34% to 24%.
``We are very pleased with the Company's revenue growth to date,' stated Randall P. Marx, Chief Executive Officer of Antennas America. ``In 1999 we demonstrated that we are a dependable supplier of wireless communications components by manufacturing and delivering up to 40,000 antennas in a month to major wireless industry customers. As we move forward to become a total wireless solutions company, we believe that this ability to produce and deliver at high rates, and in a dependable manner, is an invaluable adjunct to our wireless technology and distinguishes us from many of our competitors,' Mr. Marx continued.
As previously announced, Antennas America is expanding its focus to become a total wireless solutions company. In pursuit of this strategy, the Company has recently entered into a joint design and manufacturing agreement with TSI-USA to supply integrated two-way transceiver systems for broadband wireless MDS/MMDS and other microwave frequency applications; and it also has hired Dr. Donald Huebner of Lockheed Martin as its Principal Consulting Engineer. TSI-USA is a subsidiary of TranSystem, Inc., which is listed on the Taiwan over-the-counter Securities Exchange and is a technology-based international company that designs, develops and manufactures state-of-the-art wired and wireless video and data communication products for the optical and microwave communication industries.
Dr. Huebner, a director of Antennas America since 1998, brings expertise not only in conformal antenna technology, which has constituted the Company's primary focus in the past, but also in RF and telecommunications technology, which is central to the expanded focus into total wireless solutions. Dr. Huebner's initial responsibilities will include evaluating technology and undertaking other aspects of due diligence with respect to prospective acquisition candidates within the wireless communications industry.
``Wireless systems providers are seeing enormous growth driven by the internet and the convergence of voice, data and video. We intend to provide products that service the major wireless growth markets, such as satellite, mobile, fixed residential, fixed business, and handheld, laptop and other portable computers,' explained Mr. Marx.
Antennas America, Inc. is a diversified wireless company that designs, develops and manufactures unique antenna and other wireless solutions for the rapidly expanding telecommunications industry at its 25,100-square-foot facility leased in Wheat Ridge, Colorado. The Company also provides custom antenna designs and manufacturing for Original Equipment Manufacturers (O.E.M.) and other emerging wireless communications markets. For more information about the Company and its products, please visit our web site at www.antennas.com.
This is not a solicitation to buy or sell securities and does not purport to be an analysis of the Company's financial position. This release contains forward-looking statements. Although the Company believes that the expectations reflected in the forward-looking statements and assumptions upon which forward-looking statements are based are reasonable, they can give no assurances that such expectations and assumptions will prove to have been correct. For Antennas America, see Antennas America's Annual Report on Form 10-KSB for additional statements concerning important factors, such as demand for products, manufacturing costs and competition, that could cause actual results to differ materially from Antennas America's expectations.
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Contact:
Antennas America, Inc.
Randall Marx or Richard Anderson, 303/421-4063
Fax: 303/424-5085
Email: marx@antennas.com
web page: www.antennas.com
Friday March 10, 8:01 am Eastern Time
Company Press Release
Antennas America Adds Consulting Engineer to Strengthen Wireless Expansion
WHEAT RIDGE, Colo.--(BUSINESS WIRE)--March 10, 2000-- Antennas America, Inc. (OTCBB:ANTM - news) today announced the addition of Mr. Thomas A. Milligan P.E. as its Advisory Consulting Engineer.
Mr. Milligan has over 31 years experience in computer analysis and design, electrical and mechanical design of antennas and microwave circuits, measurement and optimization. Mr. Milligan works both as a Department Staff Engineer for Lockheed Martin for the last 23 years, and as Chief Engineer for Milligan & Associates Inc.
Mr. Milligan is currently the President of the IEEE Antennas and Propagation Society. His responsibility in that position is to oversee all aspects of the society by working the staff of the central institute (IEEE) and the numerous volunteers in a world-wide society of about 9,800 engineers. His numerous accomplishments include the development of 7 antenna courses and publications including Modern Antenna Design, McGraw-Hill, 1985. The book presents antenna design from the point of view of a hardware designer, and Antenna Engineering using Physical Optics, Artech, 1996. Mr. Milligan received a BSEE at the University of Wisconsin in 1968 and an MSEE at Johns Hopkins University in 1970.
``Antennas America is extremely fortunate to add Mr. Milligan to its engineering group,' stated Randall P. Marx, Chief Executive Officer of the Company. ``Mr. Milligan will work closely with Dr. Donald Huebner, the Company's recently appointed Principal Consulting Engineer, and Kevin Shoemaker, the Company's founder, to further enhance the Company's becoming a total wireless solutions company. The Company will also utilize Mr. Milligan's expertise in propagation analysis, a very important but sometimes overlooked aspect of wireless communications, whereby phase and amplitude are measured in complex environments to optimize point-to-point communications based on analysis of reflections and attenuations of radio waves.'
Mr. Milligan's initial efforts will be focused on advising the Company with respect to the Bluetooth technology and how the Company might use its existing conformal antenna technology or add new technology to meet the specifications and requirements of Bluetooth. The Company is joining the Bluetooth SIG with Mr. Milligan as its primary contact.
Antennas America, Inc. is a diversified wireless company that designs, develops and manufactures unique antenna and other wireless solutions for the rapidly expanding telecommunications industry at its 25,100-square-foot facility leased in Wheat Ridge, Colorado. The Company also provides custom antenna designs and manufacturing for Original Equipment Manufacturers (O.E.M.) and other emerging wireless communications markets. For more information about the Company and its products, please visit our web site at www.antennas.com.
This is not a solicitation to buy or sell securities and does not purport to be an analysis of the Company's financial position. This release contains forward-looking statements. Although the Company believes that the expectations reflected in the forward-looking statements and assumptions upon which forward-looking statements are based are reasonable, they can give no assurances that such expectations and assumptions will prove to have been correct. For Antennas America, see Antennas America's Annual Report on Form 10-KSB for additional statements concerning important factors, such as demand for products, manufacturing costs and competition, that could cause actual results to differ materially from Antennas America's expectations.
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Contact:
Antennas America, Inc.
Randall Marx or Richard Anderson, 303/421-4063
Fax: 303/424-5085
Email: marx@antennas.com
web page: www.antennas.com |
