SOURCE: NextPhase Wireless

November 15, 2006 06:30 ET

NextPhase Wireless Reports Second Quarter Results

ANAHEIM, CA -- (MARKET WIRE) -- November 15, 2006 -- NextPhase Wireless (OTCBB: NXPW), a next-generation connectivity company that specializes in integrated Internet, voice and data communication solutions, today reported financial results for the second quarter and six-month periods ended September 30, 2006.

Revenues for the quarter were $636,426, as compared with revenues of $95,476 in the same quarter last year. Gross profits for the quarter were $335,687, as compared with gross profits of $15,101 in the same quarter last year. The Company reported a loss from continuing operations of ($411,968), compared with a loss of ($504,669) in the prior quarter.

Highlights

--  567% increase in revenues
    
--  2123% increase in gross profits
    
--  31% reduction in operating loss
    
--  18% reduction in net losses
    
Readers are directed to the company's Quarterly Report on Form 10-QSB for more detailed information about or financial results for the Quarterly Period Ended September 30, 2006.

"Having successfully completed the integration of our latest acquisition, SpeedFactory, our focus is now on leveraging our collective capabilities and continuing to expand, enhance and monetize our wired and wireless networks. Through new and existing partnerships, we are continuing to extend our reach and broaden our portfolio of products and services. Building on the foundation we now have in place, we are aggressively pursuing accelerated revenues in subsequent quarters," said Robert Ford, President and CEO.

About NextPhase Wireless, Inc.

NextPhase Wireless is a next-generation connectivity company that specializes in delivering integrated Internet, voice and data communication solutions to its customers. The Company designs, deploys and operates its own wireless networks and also provides wireless technology solutions to businesses and municipalities. The Company is an active member of the WiMAX Forum™ and the Wireless Communications Association International (WCA). Leveraging its full-service capabilities and world-class infrastructure, NextPhase Wireless offers a comprehensive portfolio of broadband solutions that meet customers' needs today, and can anticipate and grow to meet their needs of tomorrow.

This press release includes statements that may constitute "forward-looking" statements, usually containing the words "believe," "estimate," "project," "expect" or similar expressions. These statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements inherently involve risks and uncertainties that could cause actual results to differ materially from the forward-looking statements. Factors that would cause or contribute to such differences include, but are not limited to, acceptance of the Company's current and future products and services in the marketplace, the ability of the Company to develop effective new products and receive regulatory approvals of such products, competitive factors, dependence upon third-party vendors, and other risks detailed in the Company's periodic report filings with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revisions or changes after the date of this release.

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