MONTREAL, QC--(Marketwired - October 13, 2016) - Siyata Mobile Inc. (the "Company" or "Siyata") (TSX VENTURE: SIM) (OTC PINK: SIMFF) is pleased to announce record top line revenue of ~$3.6M CDN and record sales in North America in Q3 2016.
This represents an impressive ~79% increase in revenue over Q2 of 2016 and a ~62% increase in sales over Q3 of 2015 with a third of the sales in Q3 coming from North America. As a result of the North American sales, the company is expecting margins to be higher than its margins reported in Q2 2015 of 24%.
Q3 2016 full financial results will be filed before the end of November 2016, and the company will conduct a conference call to discuss the results at that time.
The large increase in sales is partially from successful integration and consolidation of the Montréal based sales team that is now selling and supporting the full Uniden® Connected-Vehicle-Devices and Uniden® Cellular Boosters product lines. The Company expects sales to continue its momentum in Q4 as Siyata's Uniden® product line is introduced into distribution channels that were inherited from the Signifi acquisition.
Marc Seelenfreund, CEO and Director of Siyata states, "We are very pleased to see the successful integration of Signifi and execution of our North American sales strategy taking place. Our unique Uniden® connected-vehicle-devices and cellular amplifiers are being sold to a large amount of distributors in North America, where our sales team has long standing relationships. As a result, we expect to see strong adoption and sales growth of our innovative product line in North America."
There are tens of millions of commercial vehicles worldwide that currently rely on 2G networks and two-way radio systems for their communication platforms. Siyata aims to target this market as commercial fleets and vehicles upgrade their communications hardware to be compatible with next generation networks, push-to-talk (PTT) solutions and other software applications targeting the commercial fleet market.
Siyata Mobile Inc. develops, markets and sells a portfolio of innovative Uniden® cellular devices targeting niche, large-scale commercial vehicle and blue collar worker markets.
The Uniden® UCP100 and UCP200 are the world's first 3G connected-vehicle-devices, specificially built to be a robust communication platform inside commercial fleets, trucks, military, emergency service vehicles and many other commercial fleets.
The Uniden® line of cellular boosters, increase cellular coverage in urban, rural and mobile situations to amplify cellular signal for its users. For more information visit http://www.unidencellular.ca
Siyata's customers include cellular operators, commercial vehicle technology distributors, and fleets of all sizes in Canada, the US, Europe, Australia, and the Middle East. Visit http://www.siyatamobile.com/ to learn more.
On Behalf of the Board of Directors of:
SIYATA MOBILE INC.
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This news release may include forward-looking statements that are subject to risks and uncertainties. All statements within, other than statements of historical fact, are to be considered forward looking. Although the Company believes the expectations expressed in such forward-looking statements are based on reasonable assumptions, such statements are not guarantees of future performance and actual results or developments may differ materially from those in forward-looking statements. Factors that could cause actual results to differ materially from those in forward-looking statements include market prices, continued availability of capital and financing, and general economic, market or business conditions. There can be no assurances that such statements will prove accurate and, therefore, readers are advised to rely on their own evaluation of such uncertainties. We do not assume any obligation to update any forward-looking statements except as required under the applicable laws.