My turn to do the news! Great Quarter!
Wireless Data Solutions Reports Six Month Results
LEESBURG, Fla.--(BUSINESS WIRE)--May 12, 1998--Wireless Data Solutions Inc. (OTC BB:SOLU - news), an SEC reporting company, announced Tuesday that for its second quarter ended March 31, 1998, the company reported net income of $65,000 on revenues of $614,000 versus net income of $38,000 on revenues of $608,000 for the comparable quarter in 1997.
For the six months of fiscal year 1998, the company reported net income of $28,000 on revenues of $1,038,000 compared to net income of $111,000 on revenues of $1,244,000 for the same period in 1997.
Mike McLaughlin, CEO and president of Wireless Data Solutions said: ''Our largest market penetration has been in the cement ready-mix industry, and the warm weather we experienced this last winter had an impact on our sales. During warm winters construction continues to be more active, and the cement industry is given the opportunity to keep their mobile fleets on the road.''
McLaughlin continued, ''Even though our earnings in the second quarter were almost double the year before, we expanded our technical staff and as a result we announced a new cellular product on April 28th. The timing for this product is excellent based on an AT&T release on May 8th. We are now in the process of enlarging our sales organization which includes setting up dealers in various parts of the country. We are also involved in a Mexican project involving wireless communications that will open up new markets for our hardware and software products. Much more to come about this project.'' He concluded: ''As we position the company for real growth, we expect to continue to be profitable as we have since 1994. We have yet to discover a company in an exciting industry like wireless communications that is making a profit on a consistent basis, and has such a low market cap.''
In the May 8th issue of the New York Times, AT&T announced a new wireless service that offers calls from almost anywhere in the U.S. to anywhere in the nation for flat rates of as little as $.11 per minute. They are eliminating special ''roaming'' charges for using its phones on other companies networks. On April 28th Wireless Data Solutions announced a new cellular product for its mobile data terminals used for fleet management, allowing for the transmission of data over standard voice analog cellular networks. With the low rates offered by AT&T, the new product becomes much more attractive and cost effective.
Wireless Data Solutions Inc. is a hardware/software developer and marketing company involving digital wireless communication systems for mobile fleet management in the U.S. and foreign countries.
Statements in this news release about the company's expectations of profitability, growth and market penetration are ''forward looking statements'' within the meaning of Sections 27A and 21E of the Securities Act of 1933 and 1934. The company intends that such ''forward looking statements'' be subject to the safe harbors created thereby. Since these statements involve risks and uncertainties, the results could differ materially from those expected.
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Contact:
ICS Communications
David Wood, 800/964-8007
or
Wireless Data Solutions Inc.
Mike McLaughlin, 352/323-1295
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