SOURCE: Franklin Wireless Corporation

Franklin Wireless Corporation

September 29, 2015 09:00 ET

Franklin Wireless Announces Financial Results for Fiscal 2015

SAN DIEGO, CA--(Marketwired - Sep 29, 2015) - Franklin Wireless Corp. (OTCQB: FKWL), a market leader in broadband data communications including hardware and software solutions for M2M and the IoT (Internet of Things), today announced full-year financial results for the fiscal year ended June 30, 2015.

The Company reported net sales for fiscal 2015 of $46.3 million, compared with $30.9 million in net sales for fiscal 2014. In addition, the Company reported net income of approximately $760,000, or $0.07 per basic and diluted share, compared with a net loss of approximately $972,000, or $0.09 per basic and diluted share, for fiscal 2014. 

The increase in net sales for the year ended June 30, 2015 was due to several factors including higher sales in EMEA (Europe, the Middle East and Africa) driven by increased orders from a carrier customer in Africa as well as sales growth in the US. 

"For fiscal 2015, Franklin Wireless reported revenue of $46.3 million, which represents a nearly 50% increase from fiscal 2014," said OC Kim, president of Franklin Wireless. "During the year, we saw solid improvements in sales, gross margin and net income. In addition, we closed out the fiscal year with $11.8 million in cash, compared with $8.2 million at the end of fiscal 2014."

The Company's 10-K filing for the twelve month period ending June 30, 2015 is on file with the SEC (www.sec.gov).

About Franklin Wireless
Franklin Wireless Corp. (OTCQB: FKWL) is a global leader in innovative hardware and software products that support machine-to-machine (M2M) applications and the Internet of Things (IoT), as well as intelligent wireless solutions including mobile hotspots, routers and modems. For more information, please visit www.franklinwireless.com.

Safe Harbor Statement:
Certain statements in this press release constitute "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such forward-looking statements involve known and unknown risks, uncertainties and other factors which may cause the actual results, performance or achievements of the Company to be materially different from any future results, performance or achievements, expressed or implied by such forward-looking statements.

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