Arelnet Sales Rise by 170% to $3.2 Million in First Quarter of 2001.Business Editors/High Tech Writers TEL AVIV, Israel--(BUSINESS WIRE)--May 30, 2001 Market for VoIP Continues to Grow in Europe, Americas and Asia Arelnet Ltd. (NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on :ARLC ARLC Automatic Revolving Letter of Credit )(TASE TASE Tel Aviv Stock Exchange TASE The All Seeing Eye TASE Tactical Air Support Element TASE Thrust Assessment Support Environment TASE Telecontrol Application Service Elements (IEC communications protocol) :ARNT.), a leading provider of VoIP telephony systems, today reported sales of $3.2 Million during the first quarter of 2001, an increase of over 170% when compared to the same period in 2000 and an increase of 59% in comparison to the fourth quarter of 2000. Total sales for 2000 reached $6.4 Million. During the reporting period, sales of Arelnet's i-Tone Prime carrier grade IP Gateway increased to $1.3 Million and sales of its i-Tone Primo enterprise IP Gateway rose to $1.7 Million. The Company also neared first shipments of a number of products including the i-Tone MiniPrime that were reflected in sales and marketing costs which rose to $1.9 Million as compared to $534,000 during the first quarter of 2000. Total R&D costs during the first quarter of 2001 increased to $940,000 from $736,000 during the corresponding period in 2000. Arelnet's net loss for the reporting quarter was $1.9 Million, essentially unchanged from a net loss of $1.9 Million during the last quarter of 2000, as opposed to a loss of just under $1 Million during the first quarter of 2000. "I am proud to report that first quarter sales in 2001 represent fully one-half of the Company's sales in all of 2000," commented Arelnet 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. Amichai Sobol. "New sales in Sweden and South America during the first part of the year are proof that Arelnet and its technological offerings meet and exceed market needs. We look forward to the remainder of 2001." About Arelnet Limited Arelnet is a leading provider of Voice over IP (VoIP) systems, specializing in end-to-end carrier grade solutions. Arelnet's i-Tone Prime suite of products is designed to deliver Real Time voice and fax as well as value added Value Added The enhancement a company gives its product or service before offering the product to customers. Notes: This can either increase the products price or value. services, all over IP networks. Arelnet is publicly traded on the Tel Aviv Stock Exchange Tel Aviv Stock Exchange Israel's only stock exchange. (TASE:ARNT). Arelnet's major shareholders are Keppel Telecommunications & Transportation (SING:KEPPEL T&T), Arel Communications and Software Ltd. (NASDAQ:ARLC), Nortel Networks (NYSE NYSE See: New York Stock Exchange :NT), ELRON (NASDAQ:ELRNF), and Poalim Communications (TASE:POCO). For further information please visit our website at www.arelnet.com. |
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