Worldwide Wireless Networks Inc. Previews End-of-Year Financials
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ORANGE, Calif.--(BUSINESS WIRE)--Mar. 2, 2000--(OTC BB:WWWN)
Worldwide Wireless Networks' (OTC BB:WWWN) CEO, Jack Tortorice, announced today a preview of the company's end-of-year financials, including increase in revenues and run rates from last year, which will be followed up shortly by fully audited statements.
Revenues from the 12 month period ending December 31, 1999 were up nearly 140% from the previous year. The fourth quarter annualized run rate for 1999 is in excess of $3,000,000, which is over 160% higher than the previous year's fourth quarter run rate of $1,140,620.
"Producing numbers like these is an excellent display of our success and confirms our business model is effective as we continue to grow and expand," said Tortorice. He commented on the December 6, 1999 report by The Strategis Group, a Washington D.C. telecom research company, that says wireless broadband revenues in this segment are predicted to reach $3.4 billion in 2003, compared to 1999 revenues of $11.2 million: "Worldwide Wireless Networks' revenues in wireless activity were approximately $1 million out of our total revenues of over $2 million for unaudited 1999. This represents approximately 7% of the current market share. We expect to increase our percent of this huge wireless broadband segment and continue to grow with it."
About Worldwide Wireless Networks
Worldwide Wireless Networks is an integrated wireless communications company headquartered in Orange, California. The Company specializes in high-speed Internet access using an owned wireless network. Other products and services include DSL, frame relay, collocation services and network consulting. The Company serves all sizes of commercial business accounts and the home office market. For more information, visit them on the Web at www.wwwn.com.
The statements contained in this release, which are not historical facts may be deemed to contain, forward-looking statements, including, but not limited to, deployment of new services, growth of the customer base, and growth of the service area, among other items. Actual results may differ materially from those anticipated in any forward-looking statement with regard to magnitude, timing, or other factors. Deviation may result from risk, uncertainties, including, without limitation, the Company's dependence on third parties, market conditions for the sale of services, technical factors affecting networks, availability of capital, and other risks and uncertainties. The Company disclaims any obligation to update information contained in any forward-looking statement.
CONTACT: Worldwide Wireless Networks, Inc.
Tracey Holt, 714/937-5500
E-mail: investor@wwwn.com
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