Wireless Age Communications, Inc.
OTC Bulletin Board : WLSA

Wireless Age Communications, Inc.

April 06, 2006 14:59 ET

Wireless Age Announces 2006 First Quarter Revenues of $7.1 Million

TORONTO, ONTARIO--(CCNMatthews - April 6, 2006) - Wireless Age Communications, Inc. (OTCBB:WLSA), a leading supplier of solutions to the Canadian wireless communications industry, today announced that unaudited consolidated year to date revenues for the quarter ended March 31, 2006 were approximately $7.1 million representing a year over year increase of approximately 77%.

Year to date retail operating segment revenues were approximately $2.6 million and commercial operating segment revenues were approximately $4.5 million. Retail segment revenues grew organically by approximately 32% and our commercial revenues grew overall by approximately 128%, 37% organically and 91% through acquisitions.

"Our entire business had an excellent quarter, essentially matching the revenue in the 4th quarter of 2005, which is remarkable when you consider the traditional drop in revenues from the 4th to the first quarter." stated Mr. Brad Poulos, President and CEO. The Retail year over year growth of 23% speaks to our ability as a retailer. In the Commercial segment, several of the contracts that were delayed during the fourth quarter of fiscal 2005 have now either been completed or are well under way."

RETAIL DIVISION CLOSES ACQUISITION

The company also announced the closing of the acquisition of Wireless Odyssey on March 31st. This gives the company additional subscribers under management, and strengthens Wireless Age's presence in that market.

Allen Cowie, Wireless Age Retail President remarked, "We are pleased that we were able to pick up Wireless Odyssey, and would like to welcome Gordon Ingram, former shareholder of Wireless Odyssey, to our group. I am certain that the addition of Gordon and his customer base will help us move toward our goal to be the pre-eminent independent cellular retailer in the Prairie Provinces".

For all Wireless Age investor relations needs, investors are asked to visit the Wireless Age IR Hub at http://www.agoracom.com/IR/WirelessAge where they can post questions and receive answers within the same day, or simply review questions and answers posted by other investors. Alternatively, investors are able to e-mail all questions and correspondence to WLSA@agoracom.com where they can also request addition to the investor e-mail list to receive all future press releases and updates in real time.

About Wireless Age Communications Inc.

Wireless Age Communications Inc. owns and operates four Strategic Business Units.

Wireless Age retail outlets sell next generation wireless products and services to business and individual end users in Saskatchewan and Manitoba. Wireless Source distributes prepaid phone cards, wireless accessories, land mobile radios, batteries and ancillary electronics products to dealers throughout North America. mmwave does specialty distribution and network engineering and integration, for carriers and manufacturers of communications equipment in Canada. Wireless Works operates broadband public access and private networks in Southern Ontario, and develops and deploys consumer and commercial products for those networks.

The company is a recognized leader in the wireless industry in Canada and is a member of the WiMax forum, as well as a very active member of the Canadian Wireless Telecommunications Association.

Wireless Age has an investment in Midland International Corporation, which plans to market low cost, wireless devices including cellular phones.

This press release contains "forward looking statements" as defined in the Private Securities Litigation Reform Act of 1995. These forward-looking statements are based on currently available competitive, financial and economic data and management's views and assumptions regarding future events. Such forward-looking statements are inherently uncertain. Wireless Age Communications, Inc. cannot provide assurances that the matters described in this press release will be successfully completed or that the company will realize the anticipated benefits of any transaction. Actual results may differ materially from those projected as a result of certain risks and uncertainties, including but not limited to: global economic and market conditions; the war on terrorism and the potential for war or other hostilities in other parts of the world; the availability of financing and lines of credit; successful integration of acquired or merged businesses; changes in interest rates; management's ability to forecast revenues and control expenses, especially on a quarterly basis; unexpected decline in revenues without a corresponding and timely slowdown in expense growth; the company's ability to retain key management and employees; intense competition and the company's ability to meet demand at competitive prices and to continue to introduce new products and new versions of existing products that keep pace with technological developments, satisfy increasingly sophisticated customer requirements and achieve market acceptance; relationships with significant suppliers and customers; as well as other risks and uncertainties, including but not limited to those detailed from time to time in Wireless Age Communications, Inc. SEC filings. Wireless Age Communications, Inc. undertakes no obligation to update information contained in this release. For further information regarding risks and uncertainties associated with Wireless Age Communications, Inc.'s business, please refer to the risks and uncertainties detailed from time to time in Wireless Age Communications, Inc.'s SEC filings.


Contact Information