Affordable Telecommunications Technology Reports Strong Second Quarter 2001 Results - Revenues Increase by 94%.Business/Technology Editors HOUSTON--(BUSINESS WIRE)--Aug. 14, 2001 Shareholders' Equity Shareholders' Equity A firms' total assets minus its total liabilities. Equivalently, it is share capital plus retained earnings minus treasury shares. Shareholders' equity is the amount by which a company is financed through common and preferred shares. Up 319%; Total Assets Increase 112% Affordable Telecommunications Communicating information, including data, text, pictures, voice and video over long distance. See communications. Technology Corp. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: ATTP ATTP Appalachian-Turkish Trade Project ATTP Apprenticeship and Traineeship Training Program (NSW, Australia) ATTP Advanced Technology Transition Process aTTP Acute Thrombotic Thrombocytopenic Purpura ), an emerging provider and marketer of wireless telecommunications products and services, today announced strong financial results for the three months ended June 30, 2001. The second quarter of fiscal 2001 marked an increase in revenues by 94%; shareholders' equity by 319% and total assets by 112%, compared to the second quarter of fiscal 2000. The Company reported second quarter 2001 revenues of $576,988, compared to revenues of $298,113 for the quarter ended June 30, 2000. As of June 30, 2001, Affordable increased total assets to $3,258,793 and shareholders' equity to $2,294,467. Affordable's fiscal 2001 second quarter highlights include closing on the acquisition of Zmail Media, a nationwide provider of Internet Internet Publicly accessible computer network connecting many smaller networks from around the world. It grew out of a U.S. Defense Department program called ARPANET (Advanced Research Projects Agency Network), established in 1969 with connections between computers at the Public Access Terminals (iPATs). During the quarter, the Company opened the first of six planned kiosks to market its wireless products inside the high-traffic furniture retail chain, Finger Furniture. Steve Bethke, President and 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. of Affordable Telecommunications Technology, stated, "We can attribute strong quarterly financial results in part to the successful reorganization of our "Wireless Store" retail network. During the quarter, Affordable consolidated, closed and reopened select stores, which enhanced immediate revenues." Bethke added, "The second quarter also marked an expansion of our distribution outlets. Affordable now utilizes free-standing retail stores known as kiosks, which allow the Company to market to a captive captive said of naturally wild or feral animals kept in captivity for educational and scientific investigation with no attempt being made to domesticate them. audience. The first of six contracted kiosks have been rolled out inside a high-traffic Finger Furniture store. We anticipate this distribution channel alone will add more than $500,000 in revenues annually." Affordable plans to expand its market reach across the U.S. and secure additional opportunities for growth by leveraging existing, nationwide contracts of its newly acquired and wholly-owned subsidiary Zmail Media. Management indicated it expects to achieve positive cash flow in the fourth quarter of fiscal 2001. About Affordable Telecommunications Technology Affordable Telecommunications Technology Corp. capitalizes on the explosive two-way messaging products and services sector- a market projected to reach $300 million in annual sales with over 11 million units sold by 2004. Affordable markets pre-paid and post-paid wireless telecommunications products and services and through nine retail stores. The Company employs a 40-person direct sales force. Located in South Texas and Louisiana, Affordable's retail stores include The Wireless Store, Camera's Etc./The Wireless Store and Beeper beeper - pager Boutique Boutique A small investment firm specializing in offering specific, but limited services to a select number of individuals. Notes: These investment firms are the alternatives to large financial supermarkets. They provide a highly personalized environment for investing. . Affordable is focused on expanding its distribution channels and lowering customer acquisition costs. Through its wholly-owned subsidiary, ZMail Media, Affordable cross-sells its products on public Internet Access See how to access the Internet. Terminals located throughout the U.S. Certain statements in this news release may contain forward-looking information within the meaning of Section 21E of the Exchange Act and Section 27A of the Act. 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. |
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