Chadmoore Wireless Group First Quarter Revenues Grow 41%.Business Editors LAS VEGAS--(BUSINESS WIRE)--May 30, 2000 Chadmoore Wireless Group, Inc. (OTCBB OTCBB See OTC Bulletin Board (OTCBB). :MOOR) announced that revenues increased 41% for the first quarter ended March 31, 2000 compared to the same period in the previous year. Revenues for the quarter ended March 31, 2000 were $1,779,000 an increase of $517,000 or 41% from the previous year. Net loss for the same period was $3,451,000 or $0.06 per share, $0.05 on a fully diluted basis, compared to $2,769,000 or $0.06 per share, on a basic and fully diluted basis, for the first quarter of 1998. Robert Moore Robert Moore may refer to
Mr. Moore also noted, "an independent industry analyst, BIA BIA abbr. Bureau of Indian Affairs Telecom, Inc., has recently increased its valuation of the licenses and customer base the firm holds at over $70 million." Stephen K. Radusch, Chief Financial Officer, stated, "As of March 31, 2000 Chadmoore had over 41,000 subscriber units in service in the markets in which it had begun loading customers and completed commercialization. Each of the Company's commercialized markets are, after a six month start-up period, maintaining, on average, operating margins in excess of 70%. At the same time Chadmoore's churn rate (1) The percentage of customers who cancel their online, cellphone or other subscription service during a certain time period. (2) The percentage of employees who leave the company during a certain time period. See churning. (the rate at which customers change radio service) remains below industry averages."
THREE MONTHS ENDED
------------------
March 31
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2000 1999 1998
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($ amounts in thousands except per share data)
Revenues $1,779 $1,262 $516
------ ------ ----
Cost of Sales 529 420 183
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Gross Margin 1,250 842 333
Operating Expenses 3,381 2,758 1,480
------ ------ -----
Loss from operations (2,131) (1,916) (1,147)
Other Expenses (1,320) (658) (652)
Extraordinary item - (195) -
------ ------ -----
Net Loss $(3,451) $(2,769) $(1,799)
Basic weighted average
number of shares
outstanding 56,552,519 51,484,605 22,339,773
Diluted weighted
average number
of shares
outstanding 68,727,959 51,484,605 22,339,773
Basic net loss per
share $(0.06) $(0.06) $(0.08)
Diluted net loss per
share $(0.05) $(0.06) $(0.08)
Chadmoore Wireless Group, Inc., is a national leader in providing reliable one-to-one wireless voice communications for cost conscious businesses. The Company owns or manages approximately 4,800 FCC (1) (Federal Communications Commission, Washington, DC, www.fcc.gov) The U.S. government agency that regulates interstate and international communications including wire, cable, radio, TV and satellite. The FCC was created under the U.S. licensed frequencies in the 800 MHz (MegaHertZ) One million cycles per second. It is used to measure the transmission speed of electronic devices, including channels, buses and the computer's internal clock. A one-megahertz clock (1 MHz) means some number of bits (16, 32, 64, etc. and 900 MHz frequency bands in 180 markets covering a population base of more than 53 million people. There are approximately 20 million users in the United States, such as delivery fleets, construction contractors, transportation services, health care services, that rely on wireless SMR (Specialized Mobile Radio) The communications services used by police, ambulances, taxicabs, trucks and other delivery vehicles. Throughout the U.S., approximately 3,000 independent operators are licensed by the FCC to offer this service, which provides always-on to meet their primary communications needs. Certain information contained in this press release is forward-looking (within the meaning of Section 27A of the Securities Act of 1934 and Section 21E of the Securities Exchange Act of 1934), including statements relating to the company's future growth , profits, sales and marketing strategy. The Company's actual results could differ materially from those expressed in any forward-looking statements made by, or on behalf of, the Company in this press release or related documents. This is not a sales document for any securities offered by the Company and does not contain all the information an investor might consider prior to making an investment. Prior to investing in Chadmoore's securities, individuals are encouraged to consult an investment professional and to read the Company's documents filed with the Securities and Exchange Commission including all recent 10KSB KSB Kogod School of Business (American University) KSB Kelley School of Business (Indiana University) KSB Kantonsschule Am Brühl St. , 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 and 8K reports. For other information concerning the Company, please see the Company's web site www.chadmoore.com; call 800-616-1265 or Chadmoore's investor relations Investor relations The process by which the corporation communicates with its investors. counsel at 212-499-6809. |
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