5G Wireless Quarterly Report Reflects Significant Increase in Revenues Fueled By University Campus Market Focus.MARINA DEL REY Del Rey may refer to:
System using radio-frequency, infrared, microwave, or other types of electromagnetic or acoustic waves in place of wires, cables, or fibre optics to transmit signals or data. , Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :FGWC), an emerging leader in the design, manufacture, and deployment of wireless broadband High-speed wireless transmission of data. What is "high" speed is always a changing number. Wireless systems are typically slower than land-based, wireline networks. In the past, wireless broadband started at 250 Kbps, whereas land-based broadband was generally considered to start at T1 (WiFi) network equipment, announced today the highlights of its 10-QSB SEC filing for the period ended June 30, 2004. For the 6 months ended June 30, 2004, contrasted with the 6 months ended June 30, 2003, revenue from continuing operations continuing operations Parts of a business that are expected to be maintained as an ongoing segment of an overall business operation. Income and losses from continuing operations are reported separately if any segments have been discontinued during the increased 157%, from $71,639 to $183,795. The trend is primarily attributable to increased equipment sales to university campus customers and is expected to continue through the year. Concomitantly, operating expenses Operating expenses The amount paid for asset maintenance or the cost of doing business, excluding depreciation. Earnings are distributed after operating expenses are deducted. increased by 125%, from $1,076,096 to $1,933,732, primarily due to additional staff requirements to build and ship the equipment. These general and administration expenses are expected to increase during the next quarter. The net loss for the 6-months increased from $845,721 to $1,880,729 as a result of increased operating expenses throughout the period. For the 3 months ended June 30, 2004, compared with the 3 months ended June 30, 2003, revenue increased 120% from $53,180 to $117,246, while operating expenses decreased 15%, from $620,290 to $525,288. These general and administration expenses are expected to increase during the next quarter. The 120% revenue increase is primarily attributable to increased equipment sales to university campus customers and the 15% decrease in operating expenses is primarily due to lowered wireless equipment manufacturing costs as the company streamlines operations. The net loss for the period decreased from $626,834 to $493,426 as a result of these streamlined operations over the most recent quarter. "The relatively long sales cycles associated with decision making at the campus IT level are finally coming to fruition," stated Jerry Dix, 5G Wireless CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. . "Leveraging the success of our networks in both the University of California The University of California has a combined student body of more than 191,000 students, over 1,340,000 living alumni, and a combined systemwide and campus endowment of just over $7.3 billion (8th largest in the United States). and Cal State University systems has proven effective, as we had hoped. We're also now in a position to share our experiences with the top technology analysts and national media outlets, where our enhanced technology and low cost of ownership messages have been positively received. We also plan to increase our association and trade show activities as an efficient means of reaching vertical market prospects." The company continues to work with selected VARs to expand distribution throughout the U.S. and targeted overseas markets, including OEM (Original Equipment Manufacturer) The rebranding of equipment and selling it. The term initially referred to the company that made the products (the "original" manufacturer), but eventually became widely used to refer to the organization that buys the products and agreements such as the recent arrangement with Nomadix, and ISP (1) See in-system programmable. (2) (Internet Service Provider) An organization that provides access to the Internet. Connection to the user is provided via dial-up, ISDN, cable, DSL and T1/T3 lines. relationships such as Freedom Online throughout Florida. The company also will expand its Advisory Board with such luminaries as the recently appointed Bob McNamara Bob McNamara, born August 6, 1961 in Toronto, Ontario, is the general manager of the Grand Rapids Griffins of the American Hockey League and a former goaltender in the minor leagues. , a wireless industry pioneer who holds over 20 technology patents. About 5G Wireless Communications, Inc. 5G Wireless Communications, Inc. (www.5gwireless.com), located in Marina del Rey, Calif., develops and sells wireless broadband solutions. 5G Wireless customers receive dependable, high-speed Internet access at lower acquisition and implementation costs than most major competitors. 5G Wireless' products are distinguished by their exceptional data rate/range, number of concurrent users, line-of-sight capabilities and a unique security protocol. These features are particularly significant through 5G Wireless' use of IEEE (Institute of Electrical and Electronics Engineers, New York, www.ieee.org) A membership organization that includes engineers, scientists and students in electronics and allied fields. 802.11b enhancements for "last mile" roaming and point-to-multi-point networks. For additional information, please visit www.5gwireless.com. Or call 800-916-1611. Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor Safe Harbor 1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated. 2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive. created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward-looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise which could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward looking statements are further qualified by other factors including, but not limited, to those set forth in the company's Form 10-KSB filing and other filings with the United States Securities and Exchange Commission (available at http://www.sec.gov/). The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise. All product or service names mentioned herein are the trademarks of their respective owners. |
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