SOLU news
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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