Contact Information: Contact: www.FTSGroup.com Scott Gallagher CEO Voice: (215) 688-2355 e-mail: Email Contact
FTS Group Reports Preliminary 2006 Year Over Year Sales Increase of Almost 500% to $6,534,609
Company Posted 2005 Sales of $1,310,731
| Source: FTS Group, Inc.
TAMPA, FL -- (MARKET WIRE) -- March 13, 2007 --FTS Group, Inc. (OTCBB : FLIP ), an acquisition and
development Company operating in the wireless, technology and Internet
space, today announced preliminary top-line sales results for 2006 of
$6,534,609. The preliminary top line results reflect a jump of nearly 500%
compared to 2005 top line sales of $1,310,731. The Company hopes to file
its 2006 annual report on SEC form 10K by March 31, 2007.
FTS Group Chairman and Chief Executive Officer Scott Gallagher commented,
"2006 was both an exciting and trying year for our Company. We turned in
the first operating profit in the ten-year history of the Company, before
non-cash fair value charges relating to funding instruments. Through
acquisition driven growth our top-line increased by nearly 500%. We
successfully integrated the acquisitions of See World Satellites, Inc. and
Beyond Wireless into our business and increased value significantly. Yet we
have not experienced much appreciation in the shares of our Company other
than some dramatic short-term fluctuations. It is my firm belief that the
current price of our stock, which on a market capitalization basis is
currently priced well below one time profitable sales, is not reflective of
the true long-term value of our Company when compared to similar publicly
traded Companies. As we continue to reduce debt and improve our capital
structure I believe our share price will trade more in line with the
operating performance of the underlying Company." Gallagher went on to say,
"Having said that, 2007 is looking like a very exciting year for us to
build on the success of '06. We recently entered the mobile content space
by acquiring a direct navigation ring tone network. We plan to leverage
this asset through our retail channel by driving additional sales without
incurring additional costs. We'll continue to look for strategic accretive
acquisitions and hope to close additional asset generating transactions
shortly."
About FTS Group, Inc.
FTS Group, Inc. (OTCBB : FLIP ) is a publicly traded holding company
operating in the wireless industry through its wholly owned subsidiaries
FTS Wireless, Inc. and See World Satellites, Inc. The Company operates
through retail locations in Florida and Pennsylvania and globally over the
Internet through its web sites www.FTSGroup.com, www.CellChannel.com,
www.SeeWorld.biz and www.FTSWireless.com. For additional information about
FTS Group, Inc. or any of its wholly owned subsidiaries please review the
Company's quarterly, annual and other filings with the Securities and
Exchange Commission at http://www.SEC.gov or contact the Company at the
e-mail or phone number below.
Forward-Looking Statements
Included in this release are certain "forward-looking" statements,
involving risks and uncertainties, which are covered by the safe harbor
provisions of the Private Securities Litigation Reform Act of 1995,
including statements regarding the Company's financial performance. Such
statements are based on management's current expectations and are subject
to certain factors, risks and uncertainties that may cause actual results,
events and performance to differ materially from those referred to or
implied by such statements. In addition, actual future results may differ
materially from those anticipated, depending on a variety of factors, sales
and earnings growth, ability to attract and retain key personnel, and
general economic conditions affecting consumer spending, including
uncertainties relating to global political conditions, such as terrorism.
Information with respect to important factors that should be considered is
contained in the Company's Annual Report on Form 10-K and 10-K/A as filed
with the Securities and Exchange Commission. Readers are cautioned not to
place reliance on these forward-looking statements, which speak only as of
the date hereof.