Franklin Wireless Announces First Quarter Fiscal 2015 Financial Results

SAN DIEGO, CA--(Marketwired - Nov 14, 2014) - Franklin Wireless Corp. (OTCQB: FKWL), the market leader in multi-mode wireless modems for 3G and 4G broadband data communications, today announced financial results for the first quarter of fiscal year 2015 ended September 30, 2014.

The Company reported net sales of $13.6 million for the quarter, compared with $1.4 million in net sales for the corresponding period of 2013. In addition, the Company reported net income of approximately $283,000, or $0.03 per basic and diluted share, compared with a net loss of approximately $1.1 million, or $0.11 per basic and diluted share, for the same quarter last year. The increase in net sales was driven primarily by the market launch of new product models.

"For our first quarter of fiscal 2015, Franklin Wireless reported $13.6 million in sales, which obviously represents a significant increase compared to the year ago quarter," said OC Kim, president of Franklin Wireless. "In addition to this, the sales posted during this past quarter represent a 12% increase sequentially compared to the fourth quarter of fiscal 2014."

The Company's 10-Q filing for the three month period ending September 30, 2014 is on file with the SEC (www.sec.gov).

About Franklin Wireless

Franklin Wireless Corp. (OTCQB: FKWL) is engaged in the design, manufacture and sale of high speed wireless data products including third generation ("3G") and fourth generation ("4G") modems, routers and modules. Our current products are focused on widely deployed cellular technologies including CDMA EVDO Rev A, HSPA, WiMAX and LTE. Franklin Wireless is headquartered in San Diego, California and has a majority ownership position in Franklin Technology Inc. For additional 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.