TotalAxcess.com Posts $5.1 Million in Revenues During the Third Quarter
Fiscal 2000; Accelerates Sequential Quarterly Revenue Growth
OAKLAND, Calif., Apr 4, 2000 (BUSINESS WIRE) -- TotalAxcess.com, Inc.
(OTCBB:TXCS) today announced record breaking third quarter fiscal 2000 revenues
of $5,177,200. This represents a 59% sequential rise over second quarter fiscal
2000 revenues and more than a 2,598% year-over-year increase from revenues in
the third quarter fiscal 1999.
"I am very pleased with the exponential revenue growth TotalAxcess.com achieved
over the past four quarters," stated TotalAxcess.com Chairman and President
Joseph Monterosso, "and expect this rapid momentum to continue over the
foreseeable future due in part to our aggressive equipment installation
schedule, new carrier contracts and our ability to generate substantial sales
levels. The revenue growth that we are currently experiencing is a major step
towards becoming profitable."
"We recently completed installation of our first fully operational switch in Los
Angeles, and will be installing three additional switches in the immediate
future," continued Monterosso. "The Company has also expanded its sales
department in order to capitalize upon this strategic equipment investment,
which enables us to increase promotion of our service bureau, debit card, condo
and one plus long distance products."
In addition to receiving more than $90 million in total orders during the three
months ended March 31, 2000, the quarter's other significant developments
included the reseller agreement that TotalAxcess.com (TXCI) closed with MCI
WorldCom (Nasdaq: WCOM). The Company also formed a strategic partnership with
Teralight Solutions International to expand its international and domestic
carrier service programs with voice over IP, and strengthened its management
team with seasoned industry executives appointed as COO, CTO and VP of Business
Development.
"We have been concentrating on several key components of our business plan which
are materializing nicely now, particularly the strengthening of our competitive
advantages through the Company's private switching facilities in Los Angeles, as
well as our proven capabilities to quickly commercialize new products,"
Monterosso added.
During the third quarter, TXCI demonstrated its rapid time-to-market strategy by
launching seven new prepaid phone cards in less than two weeks. The Company also
made significant advancements during the three month period towards its goal of
emerging as the number one industry player in information management tools.
TotalAxcess.com achieved this by utilizing a state-of-the art software package
that enables its clients to monitor call traffic and other critical data on
TXCI's switching and debit platforms, and by delivering this information via the
Internet.
About TotalAxcess.com
An Oakland-based telecommunications and Internet marketing company,
TotalAxcess.com, Inc. specializes in all facets of switchless, wireless, IP
telephony and prepaid telecommunications. This includes one plus long distance
as well as both telephonic and Internet-based lottery participation.
Forward-looking statements in this release are made pursuant to the "safe
harbor" provisions of the Private Securities Litigation Reform Act of 1995.
Investors are cautioned that such forward-looking statements involve risks and
uncertainties, including, without limitation, continued acceptance of the
Company's products, increased levels of competition for the Company, new
products and technological changes, the Company's dependence upon third-party
suppliers, intellectual property rights and other risks detailed from time to
time in the Company's periodic reports filed with the Securities and Exchange
Commission.
Distributed via COMTEX.
Copyright (C) 2000 Business Wire. All rights reserved.
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CONTACT: TotalAxcess.com, Inc.
John Steward, 510/286-8700
investor_relations@txci.com
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