WaveRider Announces Strong First Quarter Results For 2003.Business Editors/High-Tech Writers TORONTO, Ontario--(BUSINESS WIRE)--April 17, 2003 New customer orders and enhanced product families result in 97 per cent increase over Q1 2002 and 8 per cent quarter on quarter growth WaveRider Communications Inc. (OTC OTC See: Over-the-counter. OTC See over-the-counter market (OTC). BB: WAVC WAVC Western Association of Venture Capitalists ), the leader in non-line-of-sight wireless broadband High-speed wireless transmission of data. What is "high" speed is always a changing number. Wireless systems are typically slower than land-based, wireline networks. In the past, wireless broadband started at 250 Kbps, whereas land-based broadband was generally considered to start at T1 technology and deployments, today announced its revenues for the first quarter of 2003 are expected to exceed $3.1 million, an increase of 97 per cent over Q1 2002 revenues of $1.6 million and 8 per cent over Q4 2002 revenues of $2.9 million. "Our continued revenue growth and tight cost controls have enabled WaveRider to reduce its quarterly cash burn to less than $100 thousand, while continuing to invest in product development and innovation," said Bruce Sinclair Bruce Sinclair (born January 25 1965. Rookie Year 1986). Balmain Tigers Balmain won a lot of fans in 1986 with a backs to the wall performance almost taking them to the Grand Final. , Chief Executive Officer, WaveRider Communications Inc. "The new EUM EUM Estados Unidos Mexicanos (Mexican United States) EUM End Use Monitoring EUM Essential Unit Messing EUM End User Modem EUM Emotionally Unavailable Man EUM End User Market EUM End User's Manual EUM European Motorcycle Union 3003 customer premise equipment for our Last Mile Solution(R) systems has stimulated the growth of our customers' deployments and we expect the new NCL NCL Norwegian Cruise Line NCL New Caledonia (ISO Country code) NCL National Consumers League (Washington, DC) NCL Neuronal Ceroid Lipofuscinosis (adult type) 1900 will enable WaveRider to increase its share of the enterprise market." "WaveRider continues to pursue relationships with customers that have the resources, the experience and the expertise to succeed in their markets. Our non-line-of-sight technology is enabling these companies to deploy cost-effective wireless networks and to establish profitable business models," added Sinclair. The world leader in fixed wireless Non-Line-of-Sight Technology WaveRider's Last Mile Solution is the world's first fixed wireless broadband product to deliver true non-line-of-sight Internet connections in the license-exempt spectrum. WaveRider's LMS is distinguished in the non-line-of-sight category by its user-installed indoor antenna An Indoor antenna is a type of Radio or TV Antenna placed indoors, as opposed to being mounted on the roof. Indoor antennas are usually a simple and cheap solution that may work well when the receiver is relatively near to the broadcasting transmitter and the building walls do not , which enables broadband connections through buildings, tree canopies and other line-of-sight barriers. WaveRider's LMS systems have been deployed by service providers in 45 U.S. states. WaveRider's customers have now made wireless broadband service accessible to hundreds of thousands of potential subscribers across the country. About WaveRider Communications Inc. WaveRider Communications Inc. (www.waverider.com) is a leading global provider of fixed wireless Internet access See how to access the Internet. products. WaveRider's Last Mile Solution(R) product family includes its non-line-of-sight 900 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. wireless system that connects businesses and residential subscribers to the Internet. WaveRider's NCL Series provides high-speed wireless connections between single or multiple computer networks. WaveRider is traded on the OTC Bulletin Board OTC Bulletin Board An electronic quotation listing of the bid and asked prices of OTC stocks that do not meet the requirements to be listed on the NASDAQ stock-listing system. , under the symbol WAVC. Except for the historical statements made herein, this release contains forward-looking statements that involve risks and uncertainties including the risks associated with the effect of changing economic conditions, trends in the development of the Internet as a commercial medium, market acceptance risks, realizing expected revenue, technological development risks, and seasonality. Risk factors also include the company's ability to secure additional financing; the company's ability to commercialize its products; the company's ability to compete successfully in the future against existing or new competitors; the company's ability to protect its intellectual property and the assurance that the rights granted under patents or copyrights that may be issued will provide sufficient protection to its intellectual property rights; the company's success in enhancing existing products and developing new products to keep up with the technological advances in the data communications industry; the continued availability of the license-exempt spectrum which is based on regulation by U.S. and foreign governments; the company's ability to avoid significant product liability exposure; the company's dependence on a limited number of third party manufacturers; the company's ability to execute its business plan and generate an overall profit and other risk factors detailed in the Company's filings with the Securities and Exchange Commission, including the company's 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. as amended. Due to these factors, actual results could differ materially from those expressed in forward looking statements by the company. |
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