Talk Visual Announces Record Revenues for 3rd Quarter
MIAMI--(BUSINESS WIRE)--Nov. 9, 2000--(OTC-BB: TVCP). Talk Visual Corporation President and CEO Eugene A. Rosov announced today that telecommunication product sales for the nine months ended September 30, 2000 totaled $884,280. During the comparable period of 1999, the Company's initial period of operations in the telecommunication business, revenues were $13,941. Telecommunication sales for the third quarter were $774,241, having increased dramatically from $87,623 for the second quarter and $22,416 for the first quarter. The increase is due to the acquisition of the New York and New Jersey stores, more productive sales and marketing efforts in existing stores, videoconference revenue and the introduction of the TV225 desktop videophone.
Net loss from operations for the nine months ended September 30, 2000, was slightly over $3,200,000 or $0.04 per share. The Company anticipates substantial revenue gains in the fourth quarter as a result of the acquisition of telephone switching equipment, higher videocalling activity and the consummation of several acquisitions
Commenting on the results, Michel J. Zwebner, Talk Visual's Chairman said, "We achieved exactly what we hoped to achieve by Q3. The Company, having invested heavily in infrastructure, has been laying the groundwork for building a substantial telecommunications organization, and is now beginning to realize the benefits of our investment this quarter. The SEC recently declared effective the Company's SB-2 filing pursuant to the equity line of financing. We're now in the closing stages of finalizing the previously announced acquisition of Yak Communications, Inc. and other important acquisitions. Based on results to date, we expect fourth quarter revenues to be meaningfully higher than those reported in the third quarter. Furthermore, we believe that we are now positioned to continue generating top line growth in the next fiscal year without sacrificing gross margins." Eugene Rosov, the Company's President and CEO stated, "We believe that we have developed a winning formula in our retail operation. In the fourth quarter we plan to replicate this formula by opening new retail locations in the U.S.A. The Company is on a fast track for continued growth, and we anticipate cash flow breakeven by the end of Q1 2001. With a strong balance sheet, a proven business model, major partnerships, and powerful underlying demographic forces driving our business, we have all the ingredients necessary to execute our strategic plan."
Please consult the Company's 10-QSB for the period ending September 30, 2000 for actual results and additional information.
ABOUT TALK VISUAL CORPORATION
Talk Visual Corporation (OTC-BB: TVCP) is a pioneer in the video teleconferencing industry. It is developing global retail facilities to accommodate the growing video-communications needs of two key market segments: businesses and expatriate ethnic populations. Talk Visual can be reached toll-free at 1-877-22VIDEO (1-877-228-4336) within the United States, or at 305 572-0575 from abroad.
A list of Talk Visual's videocalling shops is at talkvisual.com. The site allows visitors to order the Company's impressive full-color newspaper. Talk Visual sells pagers at www.beeperforabuck.com. Information on the new Talk Visual TV225 Video-Telephone can be seen on www.thevideotelephone.com. In addition, visitors are directed to visit the Company's home page at www.talkvisual.com and click on the FAQ section, and or to read the Executive's Corner latest bi-weekly message. The Company's new FREE videocalling sign-up website service is available to public videocall rooms, private and public corporations, and individuals worldwide. The service can be accessed at www.videocallme.com.
Statements in this press release that are not historical including statements regarding Talk Visual's or management's intentions, hopes, beliefs, expectations, representations, projections, plans or predictions of the future are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 21E of the Securities Exchange Act of 1934, as amended, and Section 27A of the Securities Act of 1933, as amended.
Such statements include statements regarding the Company's ability to achieve substantial revenue gains in the fourth quarter along with higher videocalling activity and other retail product success; the completion of the acquisitions currently underway; the Company's ability to achieve revenue growth without sacrificing gross margins; whether or not the Company has truly developed a successful and replicable retail formula; whether or not the Company can actually achieve cash flow breakeven by the end of the first quarter of fiscal year 2001; and generally whether in fact the Company has brought together all the elements necessary to properly and successfully execute its business plan, and can continue to effectively manage these elements.
It is important to note that the Company's actual results could differ materially from those in any forward-looking statements. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.
Factors that could cause actual results to differ materially include market and economic factors impacting whether or not the benefits of infrastructure investment will be visibly realized; whether the shareholders of the companies currently targeted for acquisitions will indeed approve the acquisitions; whether competition and other market forces will allow the Company to continue to generate revenues without a decrease in gross margins; and other risk factors listed from time to time in the Company's SEC reports, including but not limited to, the annual report on form 10-KSB for the year ended December 31, 1999, and the quarterly report on Form 10-QSB for the quarter ended June 30, 2000. This press release does not constitute an offer to sell or the solicitation of an offer to buy any securities.
CONTACT: Talk Visual Corporation
Investor Relations
305-572-0575
info@talkvisual.com |
