Wireless Data Solutions Announces First Quarter Results
LEESBURG, FLA. (Feb. 18) BUSINESS WIRE -Feb. 18, 1999--Wireless Data Solutions Inc. (OTC BB:SOLU), announced Thursday that for its first quarter ended Dec. 31, 1998, the company had revenues of $213,000
compared to $424,000 the previous year.
The company had a loss for the quarter of $170,000 or $.02 per share compared to a loss of $37,000 or $.001 per share the same period last year.
Mike McLaughlin, CEO and president of Wireless Data Solutions said: "The loss for the quarter can be attributed to different reasons, one of which was a software problem in our GPS mapping product, and the
sale of the product had to be halted until corrected. I expect the situation to be resolved and the re-entry of the GPS mapping product in April. The company will correct any mapping software problems for
customers that previously purchased the system." He continued: "The president of Dinet, who was appointed to that position last September, has designed a sales forecast system so that I can better inform the
public about future sales. Therefore, we are projecting that the company will be close to break-even in the second quarter ending March 31, 1999." |
