Affordable Telecommunications Technology Reports Significant Revenue Increase of 500% for Fiscal Year-End 2000
HOUSTON, Apr 4, 2001 /PRNewswire via COMTEX/ -- Affordable Telecommunications
Technology Corp. (OTC Bulletin Board: ATTP), an emerging provider and marketer
of wireless telecommunications products and services, today announced a
significant revenue increase of 500% for its fiscal year ended December 31,
2000.
Affordable reported year-end fiscal 2000 revenues of $1.5 million, compared to
$300,000 for the fiscal year ended December 31, 1999. The Company also reported
total assets increased by $700,000 or 84% and stockholders' equity increased by
more than $560,000 in fiscal year-end 2000 as compared to fiscal year-end 1999.
Steve Bethke, president of Affordable Telecommunications Technology, stated,
"Fiscal year 2000 marked significant milestones for Affordable. During the year,
we successfully completed two acquisitions, Beeper Boutique and Camera's Etc.
Adding these existing, high-traffic stores enhances our monthly revenues and
expands our regional strategy to penetrate the Texas- Louisiana markets.
"Year-end revenue gains are further attributed to a well-executed partnership
program which aligned Affordable with technology leaders in the wireless
telecommunications industry. During 2000, Affordable created marketing
arrangements with over seven industry-leading firms, including Nextel
Communications, Voice Stream Wireless Corp., Arch Communications, and Globalstar
USA. These alliances allowed Affordable's retail and direct sales outlets to
meet an ever-increasing market demand for the latest wireless communications
products and services and dramatically increased our potential revenues."
During 2000, Affordable's retail division began evaluating its existing network
of stores and began the process of remodeling and relocating three stores to
higher traffic locations inside a major shopping complex.
Bethke added, "Affordable remains focused on increasing shareholder value during
2001. We continue to develop our Automatic Meter Reading (AMR) division, which
we expect to rapidly accelerate our future growth. We are also finalizing the
previously announced acquisition of Zmail Media. Zmail should propel Affordable
into the complementary, burgeoning market of Internet Public Access Terminals,
which will be located in truck stops, convenience stores and conference centers
nationwide.
"In 2001, we'll continue to expand our distribution channels into new retail
stores and maximize the profitability of our existing retail outlets. As we
implement several strategic growth initiatives during 2001, we expect Affordable
will have positive cash flow and profits from operations in the third quarter of
2001."
Affordable Telecommunications Technology Corp. capitalizes on the explosive
two-way Internet messaging products and services sector- a market that is
projected to reach $300 million in annual sales with over 11 million units sold
by 2004. Affordable markets pre-paid and post-paid wireless telecommunications
products and services through 10 retail stores. The Company also employs a
nearly 40-person sales force for direct sales. Located in South Texas and
Louisiana, Affordable's retail stores include The Wireless Store, Camera's Etc.
and Beeper Boutique. The Company also operates a two-way data network covering
the greater Houston Metropolitan area, and will utilize the network's technology
to provide Automatic Meter Reading services in the near future. For additional
information, see www.thewirelessstore.net.
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 on third-party
suppliers, and other risks detailed from time to time in the Company's periodic
reports filed with the Securities and Exchange Commission.
Affordable Telecommunications Technology Corp.
Steven H. Bethke
President and CEO
713-988-8884
sbethke@flash.net |
