Ambient Announces Significant Increase in Revenue over Previous Fiscal Year.Highest Recorded Revenue Since Inception BOSTON -- Ambient Corporation (OTCBB OTCBB See OTC Bulletin Board (OTCBB). : ABTG ABTG AquaBio Tech Group ), a leader in Broadband over Power Lines Using the electric utility to provide Internet access. Also called "power line communications" (PLC), high-frequencies carrying data are superimposed over the low-frequency waves on the electrical transmission lines. (BPL) solutions, announced today that it expects to report record revenues for its fourth quarter ended December 31, 2006. Ambient released preliminary consolidated revenue figures of approximately $1.45 million (unaudited) for the three months ended December 31, 2006. Based on preliminary fourth quarter sales results, Ambient expects to report revenues of approximately $2.353 million for fiscal year 2006, an 893% increase over fiscal year 2005 revenues of $236,903. "We are very pleased with our fourth quarter performance, which represents Ambient's most significant quarter, let alone year, since inception," said John J. Joyce, Ambient's 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. . "Our growth over the past couple of quarters, as we continued a strong revenue trend, can be attributed to a combination of factors that includes the availability of working capital from the convertible debt financing that we completed in the second quarter of 2006, our expanded pilot deployments and the launch of our newest generation BPL products." "We view the latter half of 2006 as a significant turning point for Ambient and are excited about 2007 as we endeavor to build on this momentum and the continued development and launch of our newest products and applications. As we fulfill the purchase order received from Duke Energy in September 2006 and continue to build-out the Charlotte, North Carolina “Charlotte” redirects here. For other uses, see Charlotte (disambiguation). Charlotte is the largest city in the state of North Carolina and the 20th largest city in the United States. deployment, we expect revenue in the first quarter 2007 to be comparable with the last quarter 2006," continued Mr. Joyce. The results announced by Ambient today are preliminary in nature and as Ambient reports revenues on a net sales basis, it is possible that reported results may differ in the event of year-end adjustments. Ambient has sustained losses since its inception, and expects to incur additional losses for the immediate future requiring the need to raise additional funds. About Ambient Corporation Ambient Corporation, a development stage company and founding member of the Universal Powerline Association The Universal Powerline Association (UPA) is a trade association which covers all power line communication markets and all power line communication applications. The UPA aims to promote the growth of power line communication technology by delivering certified products that comply (UPA (Ultra Port Architecture) A high-speed interconnect between the CPU and memory from Sun. It uses a packet-switched crossbar architecture that can transfer more than 100 MBytes/sec. ), is a pioneer in the Broadband over Power Lines (BPL) industry. Engaged in the design, development and marketing of patented BPL equipment and technologies, Ambient's proprietary technology and in-depth industry experience is designed to provide optimal solutions for the Utility and Multi-Dwelling Unit (MDU (1) (Multiple Dwelling Unit) A commercial or residential building with multiple offices or apartments. See BLEC. (2) (Multiply-Divide Unit) A high-speed circuit that performs multiplication and division within the CPU. ) markets. Headquartered in Newton, MA, Ambient is a publicly traded company publicly traded company A company whose shares of common stock are held by the public and are available for purchase by investors. The shares of publicly traded firms are bought and sold on the organized exchanges or in the over-the-counter market. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: ABTG). Visit Ambient at www.ambientcorp.com. This press release contains forward-looking statements that involve substantial uncertainties and risks. These forward-looking statements are based upon our current expectations, estimates and projections about our business and our industry, and that reflect our beliefs and assumptions based upon information available to us at the date of this release. We caution readers that forward-looking statements are predictions based on our current expectations about future events. These forward-looking statements are not guarantees of future performance and are subject to risks, uncertainties and assumptions that are difficult to predict. Our actual results, performance or achievements could differ materially from those expressed or implied by the forward-looking statements as a result of a number of factors, including but not limited to, changes in economic conditions generally and the broadband over power lines ("BPL") market specifically, changes in technology, legislative or regulatory changes that affect us, the availability of working capital, changes in costs and the availability of goods and services In economics, economic output is divided into physical goods and intangible services. Consumption of goods and services is assumed to produce utility (unless the "good" is a "bad"). It is often used when referring to a Goods and Services Tax. , the introduction of competing products, changes in our operating strategy or development plans, our ability to attract and retain qualified personnel, and changes in our acquisition and capital expenditure plans, and the risks and uncertainties discussed under the heading "RISK FACTORS" in Item 1 of our Annual Report on Form 10-KSB for the fiscal year ended December 31, 2005, and in our other filings with the Securities and Exchange Commission. We undertake no obligation to revise or update any forward-looking statement for any reason. Ambient is a trademark of Ambient Corporation registered in the U.S. Patent and Trademark Office. |
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