Wireless Age Communications, Inc.
OTC Bulletin Board : WLSA

Wireless Age Communications, Inc.

August 08, 2005 09:32 ET

Wireless Age Announces Earnings for the Second Quarter 2005

TORONTO, ONTARIO--(CCNMatthews - Aug. 8, 2005) -

Conference Call Scheduled for August 17, 2005

Wireless Age Communications, Inc. (OTCBB:WLSA), a leading supplier of solutions to the Canadian wireless communications industry, today reported its financial performance for the second quarter, ended June 30, 2005.

The company's Chairman and CEO, John Simmonds commented, "I'm very encouraged with the results our team has posted these past several quarters. The Company has been stabilized in terms of earnings, and we are now focusing on the future. This includes ensuring we have the right team in place, that each of our business units is positioned for growth and profitability, and that we have the necessary resources to complete our plan."

"We are tracking well to our goal of earnings of at least $0.05 per share during fiscal 2005. With our strongest traditional season ahead of us, we're confident that we will meet our goal, and continue the trend for the next several quarters", the company's President and COO, Brad Poulos, commented. One of the keys to this is our recent acquisition of Knowlton Pass. Although we don't expect the full impact of this transaction to be felt for quite some time, I believe that it will add significantly to what we've already accomplished in Wireless Age."

Gary Hokkanen, Wireless Age CFO stated, "Although we are pleased to report continued growth in both our top line revenue and earnings, the management team is not fully satisfied with the net income contribution. The company will continue to focus on delivering improved net income results in the upcoming quarters with a primary focus on organic growth and increased operational efficiencies. We have reduced our selling and administrative expenses during the three month period ended June 30, 2005 to 26.5% of revenue from 34.1% a year earlier, and I'm confident we can improve further."

Three Months Ended Six Months Ended
June 30, June 30,
Summary financial
information (unaudited): 2005 2004 2005 2004
---- ---- ---- ----

Sales including
commissions and
residuals $6,365,854 $3,592,516 $10,357,413 $6,549,378
Total gross
profit 2,106,541 1,191,018 3,565,244 2,179,703
Selling and
expenses 1,688,040 1,223,490 2,930,198 2,340,309
Earnings (loss)
from operations 418,501 (32,472) 635,046 (160,606)

Net income (loss) $340,977 $91,634 $448,321 $(166,307)
Basic earnings
(loss) per share $0.012 $0.004 $0.017 $(0.008)
Diluted earnings
per share $0.012 $0.004 $0.017 -

An investor conference call will be held at 4:15 p.m. Eastern Standard Time on Wednesday, August 17, 2005. Wireless Age's CEO, CFO and President will host the call.

Interested parties may hear the conference call by telephone.

Instructions for hearing the conference call:

To hear the conference call as it takes place:
Call 1-800-814-3911 in the United States or Canada or;
Call 416-640-4127 in the Toronto Area or Internationally

Please pre-register for this conference call by calling 905-363-0345
ext 703

To hear a recording of the call (available 90 minutes following the
call by telephone for 30 days after the call takes place):
Call 1-877-289-8525 in the United States or Canada or;
Call 416-640-1917 in the Toronto Area or Internationally
Pass Code: 21133630#

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
    (905) 363-0345 ext. 223
    Wireless Age Communications, Inc.
    Gary Hokkanen
    (905) 773-3529 ext. 218
    Martin E. Janis & Company, Inc.
    Beverly Jedynak
    (312) 943-1100 ext. 12