IDNW iDial Networks, Inc. Announces Third Quarter 2001 Results; iDial Achieves a
1,180% Increase in Gross Revenue for Third Quarter 2001
THE WOODLANDS, Texas, Nov 20, 2001 (BUSINESS WIRE) -- iDial Networks, Inc.
(OTCBB:IDNW) today announced record revenues of $1,733,198 for the third quarter
ended September 30, 2001, a growth of 1,180% from $135,438 for the comparable
period in 2000 and a revenue growth of 364% from $949,670 to $4,404,509 for the
9 months ending September 30 over the comparable period in 2000. The
Comprehensive Net Loss for the third quarter 2001 decreased 97% to $(100,675)
compared to a loss of $(3,430,096) in the third quarter 2000.
"Cost savings were realized as we continued to focus on more profitable business
activities, reduced our exposure to high cost of sales and marketing efforts,
selectively increased outsourcing and actively managed our employee headcount."
said Mark T. Wood, Chairman of iDial Networks, Inc. "We continue to see strength
and excellent growth potential in Internet telephony, our core business.
International voice services are more than a $70 billion per year business, and
we are positioned to support new international revenue growth with opportunities
like our SMS call technology and our enhanced phone to phone web dial
technologies designed for international customers," Mr. Wood said.
For the 9 months ending September 30, 2001 the company reported a gross profit
of $189,684 for the 9 months ending September 30, 2001 compared to a gross
profit of $17,780 over the same 9 month period in 2000.
Carl Battie, Vice-Chairman of the Board commented, "The tremendous efforts by
the Company to streamline and focus our operations has resulted in a decrease in
all operating expenses (other than interest, depreciation and amortization) from
the quarter ended September, 2000 of 2.55 million, or 97% while increasing our
revenues 1,180% over the same period last year."
About iDial
iDial Networks, Inc., www.idialnetworks.com, an application service provider in
leading communication technologies, provides a wide range of Voice over Internet
Protocol (VoIP) services, Internet-activated applications and products that
bring affordable telecommunications services to users around the globe. The
company is building a next generation VoIP and TDM network based on carrier
class technologies from Cisco Systems (Nasdaq:CSCO) and Microsoft Corporation
(Nasdaq:MSFT).
iDial Networks, Inc. is actively seeking to diversify and grow its operations
internally and through selective, well-structured acquisitions. The Company will
continue on its path of growing internally and acquiring profitable businesses
and service providers that compliment iDial Networks diversified geographical,
product and retail/wholesale composition.
Safe Harbor Statement
Except for historical information contained herein, the statements in this news
release are forward-looking statements that are made pursuant to the Safe Harbor
provisions of the Private Securities Reform act of 1995. Forward-looking
statements involve known and unknown risks and uncertainties, which may cause
the Company's actual results in the future periods to differ materially from
forecasted results. These risks and uncertainties include, among other things,
product price, volatility, product demand, market competition, risk inherent in
the Company's domestic and international operations, imprecision in estimating
product reserves and the Company's ability to replace and expand its holdings.
CONTACT: iDial Networks, Inc.
Investor Relations, 303/338-5100 Ext. 777
investors@administrationcentre.com
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-0-
KEYWORD: TEXAS
INDUSTRY KEYWORD: COMPUTERS/ELECTRONICS
INTERNET
NETWORKING
TELECOMMUNICATIONS
EARNINGS
SOURCE:
iDial
Networks,
Inc.
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