Date: 97-03-05 15:03:13 EST
March 5, 1997
"Xecom Announces Fourth Quarter Increase of 25%"
Ranco Mirage, CA- Fourth Quarter Revenues are up 25% over the previous quarter, announced Xecom Corp. President Joseph C. Vigrliarolo. Select Switch Systems, Xecom's wholly-owned subsidiary, improved revenues by 155% over the 3rd Quarter of 96, due to increased income from the expanding AAFES project. This quarter marks the first timethat the company has shown an operating profit befor EBITDA (Earnings Before Income Tax, Depreciation and Allocation). Xecom's 1996 Audit will become available the first week in May.
As of March 1st, revenues from the AAFES project increased by 11% due to negotiations that lowered AAFES's commissions from 36.31 percent to 30 percent.
Vigliarolo is also pleased to announce that the sign-ups for single-solider rooms have passed the 20,000 mark. As of February, the comapny has expanded its market to include billeting rooms, which have added another 3,000 accounts, for a total of 23,000 sign. Each billeting room contributes $22.50 alnog with an additional 11.9% of long distance revenue to the company. These net figures should represent significant additional revenues for the company in 1997.
In addressing the performance of the company's shares on the stock market, Vigliarolo, said he could think of no adverse business news that would cause the current selling pressure. "I don't believe that this selling presssure is due to normal market influences. The company has never been in better shape financially."
Xecom Corp., through its wholly owned subsidiary Select Switch Systems, Inc., installs, maintains and operates turnkey residential barracks telecommunications services through a 10-year exclusive subcontract agreement with Sprint Corporation, to the nations Army and Air Force installations.
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