Wireless Age Communications, Inc.
OTC Bulletin Board : WLSA

Wireless Age Communications, Inc.

July 11, 2005 10:11 ET

Wireless Age Reports Strong June Sales

MISSISSAUGA, ONTARIO--(CCNMatthews - July 11, 2005) -

Company Expects to Report $6 Million-Plus in Revenue for Second Quarter and Over $10 Million in Revenue for First Six Months of 2005

Wireless Age Communications, Inc. (OTCBB:WLSA), a leading provider of a full range of technical solutions to the Canadian communications market, today announced that it expects to report strong results for the second quarter and first half of 2005.

Brad Poulos, president of Wireless Age, said that for the month of June, sales, including commission and residual revenue, were approximately $1.9 million. "We expect that for the second quarter that ended June 30, Wireless Age will report just over $6 million in revenue. This will bring sales for the first six months of 2005 to just slightly more than $10 million, which is right on track with our expectations for this year." In the first quarter of 2005 the company reported revenue of $3.9 million with net income of $107,344 or $0.004 per share. According to Poulos, Wireless Age believes it can attain revenue for 2005 in the $25 million range. "On that type of revenue, and operating at our current levels, we expect to achieve $0.05 Earnings per Share for the full fiscal year."

Poulos noted that last year the company had reported second quarter revenue of $3.6 million and six month revenue of $6.5 million. "We are achieving substantial revenue growth because our retail division continues strong organic growth and the mmwave acquisition has been accretive to the entire corporation." He noted that recently mmwave announced a substantial contract with Sogetel, valued at an initial $2 million (CDN) for the first year, to deploy a fixed wireless network for the delivery of high speed Internet services to 28 communities and two native reserves in suburban and rural Quebec.

Wireless Age Communications expects to report actual second quarter results before August 15, 2005.

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 throughout 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 Wireless Works Strategic Business Unit is operated through agreements with Knowlton Pass Electronics Inc./MaxTel Wireless Inc.

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 Azonic 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 and 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 technologi8cal developments, satisfy increasingly sophisticated customer requirement 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

  • 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