SOURCE: AmbiCom Holdings

AmbiCom Holdings

March 17, 2011 08:30 ET

Prime Equity Research Affirms Price Target and Speculative Buy Rating for AmbiCom Following Company's Second Quarter Growth

MILPITAS, CA--(Marketwire - March 17, 2011) - AmbiCom Holdings (OTCQB: ABHI), a leading developer of wireless solutions for healthcare and automotive suppliers said today that Prime Equity Research reiterated its Speculative Buy rating and price target of $0.35 following the Company's strong second quarter results. In its research note analyst Kipley J. Lytel, CFA, said: "The Company's 2QFY2011 top line financial results ending January 31, 2011, came slightly above our expectations with four percent higher revenue than our internal model." Ambicom reported revenue of $1,268,148 for the quarter ending January 31, 2011 and net income of $246,984. Lytel added in his note: "The financial drivers for 2QFY11 hit on all cylinders for AmbiCom with the dynamic top line growth combined with lower input costs and higher sales per unit."

About AmbiCom
AmbiCom is headquartered in Milpitas, California, and is a leading designer and developer of wireless products focusing on the wireless medical industry. The Company's wireless modules and devices are based on the Company's innovative application software for both Wi-Fi and Bluetooth technologies. AmbiCom is committed to wireless design and development of software and hardware, and to bringing new and innovative products to the wireless medical markets and other sectors. The Company plans to grow organically, and to augment that growth by selectively acquiring complementary products and technologies via acquisition opportunities deemed to be of strategic value. AmbiCom's quote can be obtained at http://www.otcmarkets.com.

Forward-Looking Statements

This press release contains 'forward-looking statements' within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934. Although the forward-looking statements in this release reflect the good faith judgment of management, forward-looking statements are inherently subject to known and unknown risks and uncertainties that may cause actual results to be materially different from those discussed in these forward-looking statements including, but not limited to, our ability to maintain our website and associated computer systems, our ability generate sufficient market acceptance for our shipping products and services, our inability to generate sufficient operating cash flow, and general economic conditions. Readers are urged to carefully review and consider the various disclosures made by us in the our reports filed with the Securities and Exchange Commission, including those risks set forth in the Company's Current Report on Form 8-K filed on November 13, 2007, which attempt to advise interested parties of the risks and factors that may affect our business, financial condition, results of operation and cash flows. If one or more of these risks or uncertainties materialize, or if the underlying assumptions prove incorrect, our actual results may vary materially from those expected or projected. Readers are urged not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. We assume no obligation to update any forward-looking statements in order to reflect any event or circumstance that may arise after the date of this release.

Contact Information

  • Contact:
    Beverly Jedynak
    Martin E. Janis & Company, Inc.
    312-943-1123
    Email Contact