NEWS RELEASE:
Unique Broadband Systems announces record sales and profits
MARKHAM, ON, Jan. 28 /CNW/ - Unique Broadband Systems, Inc. (VSE: UBS)
(the ''Company'') is pleased to announce that it has achieved record sales for
the six months period ended November 30, 1998. Sales in the amount of
$4,110,000 for the six months surpassed the Company's sales for the 12 month
1998 fiscal period by approximately 21%. The increase in revenue for the
period was largely due to the current contract with CD Radio. With $3,000,000
remaining on the current contract with CD Radio and its other backlog, the
company is comfortable it will reach its fiscal goals for the May 31, 1999
year-end.
The record sales and return to profitability of $595,143 for the three
months ended November 30, 1998 is evidence that the significant investment the
company has incurred over the last three years in developing its suite of
products has resulted in successful commercialization as management had
envisioned at the time.
''We feel that being the recognized leaders in the Digital Audio
Broadcasting field ('DAB') has helped position the Company in what could be a
dominant role in shaping the change of radio for the future'', stated Alex
Dolgonos, President and CEO. The Company is currently in discussions with a
number of transmitter manufacturers regarding an OEM relationship for digital
compression equipment.
In addition to the Company's involvement in the exciting DAB marketplace,
our Digital Video team is concentrating its efforts on the completion of the
development of the joint Unique/Lucent solution (see press release dated Nov.
18/98).
''Our immediate goal is to augment our current business and capture a
significant portion of the exploding DAB market to ensure a healthy backlog
for the future'', stated Stephen J. Rosen, CFO.
Unique Broadband Systems, Inc. is a recognized world leader in the
design, development and manufacture of broadband wireless and other wireless
solutions that serve the service provider, telecommunications and broadcast
industries. With headquarters in Markham, Ontario, Unique Broadband Systems
markets its products globally, providing 7X24 support. Unique Broadband
Systems is a trademark of Unique Broadband Systems, Inc. For additional
information visit the Company's World Wide Web site at http//www.uniquesys.com
On behalf of the Board of
Unique Broadband Systems, Inc.
''Alex Dolgonos''
Chief Executive Officer |
