ERFB News November 15, 2013
ERF Wireless Third Quarter 2013 Financial Results Show 15% Revenue Growth Over Second Quarter
LEAGUE CITY, TX--(Marketwired - Nov 15, 2013) - ERF Wireless, Inc. (OTCQB: ERFB) the leading provider of enterprise-class wireless and broadband products and services, announced today that the Company has filed its Form 10-Q with the Securities and Exchange Commission reporting results for the quarter ended September 30, 2013.
The Company's financial results reflect the Company's continued investment in our networks and communications services to the oil and gas industry. The following reflects the three month activity ended September 30, 2013.
The Company reported overall consolidated revenues of $1,803,000 for the quarter ended September 30, 2013, as compared to $1,563,000 for the most recent quarter ended June 30, 2013; an increase of $240,000 or 15%. The overall increase was comprised of a $312,000 increase in revenues in our oil and gas operations subsidiary, Energy Broadband; resulting from an increase in the number of U.S. Land drilling rigs being provided broadband circuits and overall turnkey communications solutions, an increase of $13,000 in wireless broadband services; offset with a decrease of $85,000 from our enterprise network services due to a decrease in bank branch installations.
The Company reported Gross Profit of $744,000 for the quarter ended September 30, 2013, as compared to $564,000 for the most recent quarter ended June 30, 2013; an increase of $180,000 or 32%. Gross Margins for the quarter ended September 30, 2013, were 41% as compared to 36% for the most recent quarter ended June 30, 2013.
The Company reported a Consolidated Net Loss of $2,621,000 for the quarter ended September 30, 2013, as compared to a Consolidated Net Loss of $2,256,000 for the most recent quarter ended June 30, 2013 with much of the increase in loss being due to interest and derivatives.
About ERF Wireless
ERF Wireless Inc. is a fully reporting public corporation located in League City, Texas, and is the parent company of Energy Broadband Inc., ERF Enterprise Network Services, ERF Bundled Wireless Services, ERF Wireless Messaging Services and ERF Network Services. The company specializes in providing wireless and broadband product and service solutions to enterprise, commercial and residential clients on a regional, national and international basis. Its principals have been in the wireless broadband, network integration, triple-play FTTH, IPTV and content delivery business for more than 40 years. For more information, please visit our websites at www.erfwireless.com, www.energybroadband.com and www.erfwireless.net or call 281-538-2101. (ERFBG) |
