iDial Networks Announces Record Revenues of $27,161,034 in Third Quarter 2003
Thursday November 13, 12:49 pm ET THE WOODLANDS, Texas--(BUSINESS WIRE)--Nov. 13, 2003--iDial Networks, Inc. (OTCBB:IDNW - News) a leading provider of Latin American and SIP-Based Telecommunication Services for service providers and consumers worldwide, today announced financial results for the third quarter ended September 30, 2003.
Highlights of the Third Quarter 2003 Include:
Gross Revenues increased 39% to $27,161,034 in Q3 2003 as compared to $19,500,401 in Q3 2002;
Completed the acquisition of GlobalNet, Inc., a leading provider of Latin American Telecommunication Services; and
iDial was named Texas's twelfth fastest growing technology company in Deloitte & Touche Fast 50 Program.
"Obviously the big news for Q3 2003 is the completion of the acquisition of GlobalNet, Inc.," said Mark T. Wood, iDial Networks Chairman and CEO. "After the acquisition of GlobalNet, iDial is now one of the largest wholesalers of international voice services to Latin America in the world."
"We believe that the combination of GlobalNet's larger carrier grade network, long standing Tier 1 carrier relationships and iDial's SIP-Based technologies technology will result in significant benefits to our investors as well as our customers. Key growth areas in telecom today are SIP-based voice over IP and services to Latin America. Management believes the company is extremely well positioned to be a leading provider of services in both areas."
The company will announce a conference call to discuss the Q3 2003 results next week.
About iDial Networks, Inc.:
iDial Networks, Inc., (http://www.idialnetworks.com/), is an application service provider in leading communication technologies, provides a wide range of Voice over Internet Protocol (VoIP) services, Internet-activated applications and products that bring affordable telecommunications services to users around the globe. The company is building a next generation VoIP and TDM network based on carrier class technologies from Cisco Systems (Nasdaq:CSCO - News) and Microsoft (Nasdaq:MSFT - News).
GlobalNet, Inc., iDial's wholly-owned subsidiary, is one of the top ten U.S. service providers of outbound traffic to Latin America and counts among its customers more than 30 Tier 1 and Tier 2 carriers. GlobalNet provides international voice, data, fax and Internet services on a wholesale basis over a private IP network to international carriers and other communication service providers in the United States and internationally. GlobalNet's state-of-the-art IP network, utilizing the convergence of voice and data networking, offers customers economical pricing, global reach and an intelligent platform that guarantees fast delivery of value-added services and applications.
Contact:
iDial Networks, Inc., The Woodlands
Mark T. Wood, 281-465-3110
investors@idnw.com |
