TAMPA, FL--(Marketwire - April 16, 2008) - FTS Group, Inc. (
OTCBB:
FLIP), an acquisition
and development Company generating positive cash-flow on over $7 Million in
annual sales for 2007, today announced its full results for the year ended
December 31, 2007. Below are some of the key achievements completed during
2007 and year to date 2008. To review the full financial statement visit
www.sec.gov:
-- 2007 sales of $7,024,300 was a Company record.
-- 2007 free cash flow of $380,394 was a Company record.
-- Year over Year Liabilities dropped $387,997
-- During first three plus months of 2008 paid down over $500,000 in
convertible debt.
-- Completed Liquidity event with Elysium Internet for $2,000,000.
-- Closed largest acquisition in Companies history with the OTG deal.
FTS Chairman and Chief Executive Officer Scott Gallagher commented, "We've
just reported another record year of operating results for our Company. The
2007 year end resulted in positive EBITDA, Positive Cash-Flow and Reduced
Debt. In addition to the tremendous results achieved during the year, so
far in 2008 we've reduced our convertible debt by more than $500K
surpassing all of last year; we completed the $2 Million liquidity event
with Elysium Internet
(
OTCBB:
USBF) increasing shareholder value considerably. And most recently
we acquired IT business assets expected to be almost immediately accretive
to earnings and post big gains in top line sales during 2008." Gallagher
continued, "I fully expect our share price to improve in both the short and
long term as a result of the convertible debt reductions and recent deal
related activities. We're also exploring the possibility to initiating a
share buy back sometime during the second half of the year. Right now we'll
continue to use cash generated from operations to pay down our debt and
grow our business."
A replay of the recent shareholder conference call is available at
www.FTSGroup.com.
About FTS Group, Inc.
FTS Group, Inc. (
OTCBB:
FLIP) is a publicly traded acquisition and
development Company focused on acquiring, developing and investing in cash
flow positive businesses and viable business ventures primarily those in
the Technology, Wireless and Internet space. The Company generates revenue
through its three wholly owned subsidiaries: See World Satellites, Inc.,
FTS Wireless, Inc. and OTG Technologies Group, Inc. 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, general economic conditions affecting consumer
spending, including uncertainties relating to global political conditions.
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.
Contact Information: FTS Group, Inc.
Contact:
www.FTSGroup.com
Scott Gallagher
CEO
727-417-7807