Wireless Age Communications, Inc.
OTC Bulletin Board : WLSA

Wireless Age Communications, Inc.

October 05, 2005 10:06 ET

Wireless Age Announces Continued Strong Revenues For September And Q3 2005

TORONTO, ONTARIO--(CCNMatthews - Oct. 5, 2005) -

Posts 66% Year-over-Year Third Quarter Revenue Increase

Chairman comments on recent share price decline

Wireless Age Communications, Inc. (OTCBB:WLSA), a leading supplier of solutions to the Canadian wireless communications industry, today reported revenues (including commissions and residuals) of approximately US$2.1 Million for the month of September 2005 and approximately US$6.5 Million for the third quarter ended September 30, 2005. This compares to revenue of US$6.4 Million reported this past quarter and US$3.9 Million reported in the third quarter of 2004.

Wireless Age President & CEO, Brad Poulos stated "We continue to put revenue numbers on the board in excess of $2 Million per month, a strong sign that our team continues to execute its objectives. Our success continues to be across the board, with fundamentals in each of our business units remaining strong. Our year-over-year growth of 66% for the quarter is a combination of healthy organic growth and acquisitions. Same store sales in our retail business have increased more than 25%, our wholesale and carrier businesses continue to post strong sales, and our Wireless Works network business is winning business. As we enter the final quarter of 2005, I am very confident that we will continue to grow, and achieve our goal of 5 cents per share in net earnings."

The company also commented on recent share price activity. The company is not aware of any material fact or event that would adversely affect stock performance.

Wireless Age Chairman, John Simmonds stated, "We fully acknowledge and appreciate the recent comments of shareholders who have inquired about any correlation between share price activity and our business activities. Our September sales performance is unequivocal support of the fact that Wireless Age is stronger than ever and on target to meet its 2005 objectives. As Chairman of this Company, my duty to shareholders is to ensure that management delivers results by executing our business plan and I am pleased to report that we continue to do so. Though our share price as of late does not reflect our current financial achievements, my extensive experience in this industry has taught me that markets eventually reward and reflect performance. As such, our focus remains on continuing the trend for greater financial performance and generating long-term shareholder value."

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. One such phone is designed to be located in glove boxes, first aid kits, emergency supply packages and used for emergency purposes. Another is a prepaid wireless phone designed to be used in the low cost and short-term usage markets.

For additional information about Wireless Age Communications Inc. or its subsidiaries, please visit the company's website at www.thewirelessage.com or review periodic filings with the Securities and Exchange Commission at http://www.sec.gov.

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.

Wireless Age Communications, Inc. (OTC Bulletin Board:WLSA)

Contact Information

  • Wireless Age Communications, Inc.
    Brad Poulos
    President & CEO
    (905) 363-0345