SOURCE: Mobile Reach International

November 15, 2005 12:42 ET

Mobile Reach Reports Revenue Growth for Second Consecutive Quarter

Company Poised for Growth Following Restructuring

CARY, NC -- (MARKET WIRE) -- November 15, 2005 -- Mobile Reach International, Inc., (OTC BB: MOBR) today released preliminary results for its operating activities for the first fiscal quarter ending October 31, 2005. The first fiscal quarter was highlighted by revenue growth as sales increased for the second consecutive quarter.

Mobile Reach designs and develops mobile applications using a multitude of mobile technologies such as cellular or wireless communications along with BlackBerry, PocketPC, and/or barcode scanning devices, to enable their customers to access critical data such as financial records, equipment configurations, and work orders from off-site locations. Mobile Reach enjoys a high level of customer retention as clients experience significant increased productivity resulting in a very desirable return on investment.

"This trend of revenue growth demonstrates that the effectiveness of our strategy and our team," says Mark J. Lloyd, President and Chief Technology Officer. "Despite the distraction of restructuring activities and no headcount growth over the last year, the revenue in our fiscal quarter ending October 31, 2005 was 150% greater than the revenue in our fiscal quarter ending 6 months earlier on April 30, 2005." The Company recently released the annual audit for the fiscal year ending July 31, 2005 during which the Company underwent significant restructuring including reduction of staff, upgrade to Board of Directors, conversion of debt to equity, and reverse split of common stock.

During the first fiscal quarter ending October 31, 2005, Mobile Reach International, Inc. and its subsidiaries generated approximately $156,000 in total revenue compared to $139,174 in total revenue in the previous quarter ending July 31, 2005 and $62,587 the fiscal quarter ending April 30, 2005. As a result, Mobile Reach International, Inc. enters its second fiscal quarter foreseeing similar revenue and customer growth. Note that no assurances can be given that similar revenue and customer growth will continue to be achieved.

About Mobile Reach International

Mobile Reach provides 'On-Time-All-the-Time' software and related services for mobile phones, personal digital assistants, bar code scanners, tablet computers and laptop computers. Right now, Mobile Reach software is creating efficiency in the hands of inventory specialists, cardiology physicians, infectious disease investigators, utility repair technicians, warehouse mangers, seaport dock managers, retail inventory managers and airport tarmac workers. Our team has developed the industry's most advanced mobile work-flow management system which allows our customers operate so efficiently that they routinely reassign more than 20% of their mobile workers to other business critical tasks.

Investors are invited to visit Mobile Reach's Investor relations headquarters at http://www.StockBroadcasting.com/featured/MOBR/ for more information.

This press release contains forward-looking statements, which are made pursuant to the Safe-Harbor provisions of the Private Securities Litigation Reform Act of 1995. Words such as "intends," "believes" and similar expressions reflecting something other than historical fact are intended to identify forward-looking statements, but are not the exclusive means of identifying such statements. These forward-looking statements involve a number of risks and uncertainties, including the timely development and market acceptance of products and technologies, the ability to secure additional sources of finance, the ability to reduce operating expenses, and other factors described in the companies' respective filings with the Securities and Exchange Commission. The actual results that the companies achieve may differ materially from any forward-looking statement due to such risks and uncertainties. The companies undertake no obligation to revise or update any forward-looking statements in order to reflect events or circumstances that may arise after the date of this release.

Contact Information

  • Contact:
    Investor Relations
    Brian Balbirnie
    Mobile Reach International, Inc.
    Phone: (919) 336-2500 x3
    Fax: (919) 882-9056
    Email Contact

    Press Relations
    Jim Learish
    Stock Broadcasting, Inc.
    Phone: (919) 827-4261
    Fax: (919) 573-0888
    Email Contact