CellPoint Inc. Reports Preliminary Quarterly Results; Revenues Surge as Industry Growth Takes Off.Business Editors LONDON--(BUSINESS WIRE)--April 30, 2001 CellPoint Inc. (Nasdaq: CLPT) today announced the Company's unaudited results for the fiscal third quarter ended March 31, 2001. Peter Henricsson, Chairman and Chief Executive Officer of CellPoint Inc. reported Q3 revenues of $2,463,294 compared to revenues of $265,511 in the quarter ended March 31, 2000 and $946,886 in fiscal Q2. Revenues grew 2.5 times faster than 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. and increased 828% over the same time last year and 160% over the previous quarter. During the quarter, the Company focused on keeping operating expenses under control; this together with the increased sales resulted in an improvement in EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become to -$3,108,448, with the average burn-rate down to just over $1 million per month. Current assets Current Assets Appearing on a company's balance sheet, it represents cash, accounts receivable, inventory, marketable securities, prepaid expenses, and other assets that can be converted to cash within one year. excluding other receivables and inventory were $7.5m compared to $10.4m at the end of Q2. The Company has grown to 150 staff from 66 a year ago. Results for the nine-month period ending March 31, 2001 report revenues of $4,388,301 compared to $619,274 for the period ending March 31, 2000, an increase of 609%. For the nine-month period, EBITDA was -$8,703,881. Selling, general and administrative expenses were $11,063,744 for the nine-month period compared to $2,580,902 in 2000. The Company incurred a Net loss of $20,026,376 which included depreciation and amortization expenses of $9,593,495. This compares to a Net loss of $6,511,820 for the equivalent period ending March 31, 2000. "We are very pleased to announce this strong progress, especially considering the difficult backdrop in the Software and Telecommunications marketplaces," says Henricsson. "We are seeing a marked increase in demand from the GSM operators. Delays in 3G deployment are contrary to what might be expected, actually working to our advantage. The current climate makes it even more important for the operators to introduce non-voice services to leverage their investments in existing networks - we are proving that network-wide location services See mobile positioning. are ready now." Henricsson concludes, "The undoubted un·doubt·ed adj. Accepted as beyond question; undisputed. See Synonyms at authentic. un·doubt  ed·ly adv. highlight of this quarter
is our installation with E-Plus for the world's first commercial,
network-based location offering; we look forward to working with E-Plus
and many other providers into the future. At a time when the telecoms
industry is announcing revenue downturns and headcount reductions, we
are growing with this emerging business, both in terms of sales Terms of saleConditions under which a firm proposes to sell its goods or services for cash or credit. results and personnel to meet the increasing demand." Peter Henricsson discussed the quarterly report in a question and answer session; a full transcript is posted at http://www.cellpt.com/corporateupdate2.htm Summary Highlights E-Plus - CellPoint delivers world's first commercial network-based location services for leading German operator, E-Plus Listing in Europe - CellPoint successfully gains secondary listing and begins trading on Stockholm O-List CellPoint Launches Channel Sales Division - expert Channel and Business Partner team deployed CellPoint Unwire Strikes M-commerce Deal with MINT - joint development will allow consumers to purchase goods from vending machines using mobile phones CellPoint Unwire Secures More Telematics Business - strategic implementation of wireless application servers for transportation ticketing system The Company's full report on Form 10QSB QSB Fading QSB Qualified Small Business (IRS category) QSB Queen Street Backpackers (Auckland, New Zealand) QSB Quality System Basics QSB Qualified Supplemental Benefit QSB Quantum Singleton Bound will be filed with the SEC before May 15 and will be available at http://www.freeedgar.com CellPoint Inc. (Nasdaq and Stockholm OM Exchange: CLPT, www.cellpoint.com) is a US company with subsidiary operations in Sweden, Great Britain Great Britain, officially United Kingdom of Great Britain and Northern Ireland, constitutional monarchy (2005 est. pop. 60,441,000), 94,226 sq mi (244,044 sq km), on the British Isles, off W Europe. The country is often referred to simply as Britain. and South Africa South Africa, Afrikaans Suid-Afrika, officially Republic of South Africa, republic (2005 est. pop. 44,344,000), 471,442 sq mi (1,221,037 sq km), S Africa. delivering location and wireless telemetry telemetry Highly automated communications process by which data are collected from instruments located at remote or inaccessible points and transmitted to receiving equipment for measurement, monitoring, display, and recording. services in cooperation with cellular operators worldwide. CellPoint's end-to-end cellular location technology is a high-capacity system that works in unmodified Adj. 1. unmodified - not changed in form or character unqualified - not limited or restricted; "an unqualified denial" modified - changed in form or character; "their modified stand made the issue more acceptable"; "the performance of the modified aircraft GSM networks and uses standard GSM or WAP phones and standard Internet services. Several commercial applications are available for business and personal location services including Resource Manager(TM) for mobile resource management, iMate(TM) for location-sensitive information and Finder(TM), an application for locating friends and family. Subsidiary Unwire's programmable telemetry terminal servers are also integrated with the CellPoint System Platform enabling a broad range of applications for wireless remote management and control. CellPoint(TM) and CellPoint Systems(TM) are trademarks of CellPoint Inc. Forward-looking statements in this release are made pursuant 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. provisions of the Private Securities Litigation An action brought in court to enforce a particular right. The act or process of bringing a lawsuit in and of itself; a judicial contest; any dispute. When a person begins a civil lawsuit, the person enters into a process called litigation. Act of 1995. Actual results may differ materially from those projected in any forward- looking statement. Investors are cautioned that such forward-looking statements involve risk and uncertainties which may cause actual results to differ from those described. This information was brought to you by BIT http://www.bit.se The following files are available for download: http://www.bit.se/bitonline/2001/04/30/20010430BIT00210/bit0002.doc The full report http://www.bit.se/bitonline/2001/04/30/20010430BIT00210/bit0002.pdf The full report |
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