AirNet Communications Announces $6M In Cash Collections.Business Editors/Technology Writers MELBOURNE, Fla.--(BUSINESS WIRE)--Feb. 28, 2002 AirNet Communications Corporation (Nasdaq:ANCC ANCC American Nurses Credentialing Center ANCC Association Nationale des Cardiaques Congénitaux ANCC Army-Navy Country Club (Arlington, VA) ANCC Area Nine Cable Council (state mandated government body in UK) ), the technology leader in software defined base station products for wireless communications wireless communications 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. , today announced that the first two months of fiscal year 2002 have been a record for customer cash collections. The company has collected more than $6M in cash during the first two months of this year. "Our team continues to execute on the `turn-around' strategy for the company," said Glenn Ehley, 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 AirNet Communications Corporation. "The company's cash position as of today exceeds the December 31, 2001 year end balance. This improved cash flow is further proof that our efforts in containing costs and expenses together with our emphasis on collections over the last six months is paying off for the stakeholders Stakeholders All parties that have an interest, financial or otherwise, in a firm-stockholders, creditors, bondholders, employees, customers, management, the community, and the government. . We will also continue to focus on near term sales opportunities which may yield immediate and tangible benefits to the Company." Further information pertaining per·tain intr.v. per·tained, per·tain·ing, per·tains 1. To have reference; relate: evidence that pertains to the accident. 2. to cash flow and other financial results will be available on the company's conference call for the fourth quarter and 2001 fiscal year scheduled for March 26, 2002. The teleconference is scheduled to begin at 5:30 p.m. Eastern time and is expected to last approximately 45 minutes. Those interested in listening to the conference call should dial 719/457-2728. For those who cannot participate in the live conference call, a replay will be available beginning at 8 p.m. ET on Tuesday, March 26, until midnight ET on Tuesday, April 2, 2002. The replay number for the conference call is 719/457-0820 and the pass code is 494608. About AirNet AirNet Communications Corporation is a leader in wireless base stations and other telecommunications equipment that allow service operators to cost effectively and simultaneously offer high-speed wireless Internet and voice services to mobile subscribers. AirNet's patented broadband, software-defined AdaptaCell base station solution provides a high capacity base station with a software upgrade path to the wireless Internet. The Company's AirSite Backhaul Free base station carries wireless voice and data signals back to the wireline network, eliminating the need for a physical backhaul link, thus reducing operating costs operating costs npl → gastos mpl operacionales . AirNet has 69 patents issued or pending and has received the coveted cov·et v. cov·et·ed, cov·et·ing, cov·ets v.tr. 1. To feel blameworthy desire for (that which is another's). See Synonyms at envy. 2. To wish for longingly. See Synonyms at desire. World Award for Best Technical Innovation from the GSM Association (GSM Association, Dublin, Ireland, www.gsmworld.com) A membership association founded in 1987 that promotes the development and evolution of the GSM communications standard worldwide. , representing over 400 operators around the world. More information about AirNet may be obtained by calling 321.984.1990, or by visiting the AirNet Web site at http://www.airnetcom.com. 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. Statement Under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and of 1995 The statements contained in this press release that are not historical information are forward-looking statements that relate to future events or our future financial performance, including statements regarding our expectations, beliefs, plans, estimates, intentions or strategies for the future. Forward looking statements include statements regarding the company's projected cash flow, new business prospects and ability to manage expenses aggressively. All forward-looking statements included in this release are based upon information available to AirNet Communications Corporation as of the date hereof and we assume no obligation to update any such forward-looking statements. Forward-looking statements involve risks and uncertainties, which could cause our actual results to differ materially from those projected. Potential risks and uncertainties include, but are not limited to our limited operating history, the highly competitive nature of wireless communications, our need to raise additional working capital, and the difficulty of raising capital due to economic conditions and the status of capital markets. These and other risks are discussed in Company filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K Form 10-K A report required by the SEC from exchange-listed companies that provides for annual disclosure of certain financial information. Form 10-K See 10-K. for the year ended December 31, 2000. Current financial performance may not be indicative of future financial performance. AirNet(R) and AirSite(R) are registered trademarks with the U.S. Patent and Trademark Office. The stylized styl·ize tr.v. styl·ized, styl·iz·ing, styl·iz·es 1. To restrict or make conform to a particular style. 2. To represent conventionally; conventionalize. AirNet mark, AdaptaCell(TM), Super Capacity(TM), Backhaul Free(TM), and We're Ready for Anything(TM) are trademarks of AirNet Communications Corporation. Other names are registered trademarks or trademarks of their respective companies or organizations. |
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