FTS Wireless Agrees to Acquire Direct Navigation Ring Tone Network Thursday January 18, 9:09 am ET
TAMPA, FL--(MARKET WIRE)--Jan 18, 2007 -- FTS Wireless, Inc. a wholly owned subsidiary of FTS Group, Inc.(OTC BB:FLIP.OB - News) an acquisition and development Company, today announced that it has agreed to acquire a ring tone network of 161 web sites and related domain names.
FTS Group Chairman and Chief Executive Officer Scott Gallagher, commented, "We're very excited with this deal and the opportunity to expand our fast growing wireless business into the global mobile music industry. The target ring tone network includes some of the top 'type in' domain names in the industry and 161 fully functioning revenue generating web sites. We expect the new revenue channel to be immediately accretive to earnings.
According to Broadcast Music Inc., a performing-rights organization, U.S. ring-tone sales will hit $600 million in 2006, up from $500 million last year. Worldwide, ring tones account for 81% of $6.7 billion in mobile music sales, according to Juniper Research, a U.K.-based firm, though Juniper expects that share to drop to 51% by 2011, when the total market will hit $14.1 billion. In the U.S., there are now 217.4 million cell-phone users, according to the Cellular Telecommunications and Internet Association (CTIA), a wireless trade group, indicating that just over 11% are currently downloading ring tones.
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FTS Group Reports Preliminary 2006 Year Over Year Sales Increase of Almost 500% to $6,534,609 Tuesday March 13, 6:00 am ET
Company Posted 2005 Sales of $1,310,731
TAMPA, FL--(MARKET WIRE)--Mar 13, 2007 -- FTS Group, Inc. (OTC BB:FLIP.OB - News), an acquisition and development Company operating in the wireless, technology and Internet space, today announced preliminary top-line sales results for 2006 of $6,534,609. The preliminary top line results reflect a jump of nearly 500% compared to 2005 top line sales of $1,310,731. The Company hopes to file its 2006 annual report on SEC form 10K by March 31, 2007. ADVERTISEMENT
FTS Group Chairman and Chief Executive Officer Scott Gallagher commented, "2006 was both an exciting and trying year for our Company. We turned in the first operating profit in the ten-year history of the Company, before non-cash fair value charges relating to funding instruments. Through acquisition driven growth our top-line increased by nearly 500%. We successfully integrated the acquisitions of See World Satellites, Inc. and Beyond Wireless into our business and increased value significantly. Yet we have not experienced much appreciation in the shares of our Company other than some dramatic short-term fluctuations. It is my firm belief that the current price of our stock, which on a market capitalization basis is currently priced well below one time profitable sales, is not reflective of the true long-term value of our Company when compared to similar publicly traded Companies. As we continue to reduce debt and improve our capital structure I believe our share price will trade more in line with the operating performance of the underlying Company." Gallagher went on to say, "Having said that, 2007 is looking like a very exciting year for us to build on the success of '06. We recently entered the mobile content space by acquiring a direct navigation ring tone network. We plan to leverage this asset through our retail channel by driving additional sales without incurring additional costs. We'll continue to look for strategic accretive acquisitions and hope to close additional asset generating transactions shortly."
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FTS Group Closes Acquisition of Direct Navigation Ring Tone Network Monday March 12, 9:59 am ET
Company to Begin Generating Internet Revenue Immediately
TAMPA, FL--(MARKET WIRE)--Mar 12, 2007 -- FTS Group, Inc. (OTC BB:FLIP.OB - News), an acquisition and development Company operating in the wireless, technology and Internet space, today announced that it has closed the all-cash acquisition of a ring tone network of 161 operating web sites and direct navigation domain names. The closing of the acquisition was delayed due to technical issues with the escrow agent. FTS Group CEO Scott Gallagher commented, "We're pleased to have closed this important strategic acquisition. Broadening the revenue base of FTS Wireless into the mobile content arena is a natural fit for our Company and something we've been trying to achieve for some time." Gallagher continued, "We plan to leverage this acquisition by rolling out proprietary mobile products in the future. We're currently developing our first proprietary custom ring tone/mobile content subscription-based product with our strategic partner Maxim Software. We hope to complete development of the new product for deployment by the end of Q2."
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This ran the last 3 weeks of March last year....expect the same this year leading up to the 10K.
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FTS Group Reports Record 2006 Results, Sales Jump More Than 500% to $6,678,076 From $1,310,731 Tuesday April 17, 9:52 am ET
Company Reports First Full Year Profit in Its 10-Year History
TAMPA, FL--(MARKET WIRE)--Apr 17, 2007 -- FTS Group, Inc. (OTC BB:FLIP.OB - News) an acquisition and development Company operating in the wireless, technology and Internet space, today announced record operating results for fiscal 2006. FTS generated the first full year of profits in its history.
ADVERTISEMENT click here FTS Group Chairman and Chief Executive Officer Scott Gallagher, stated, "Our Companies have delivered record operating results for 2006. We saw FTS Wireless grow year over year top-line sales by nearly 30% and turn cash flow positive by the end of the year. See World generated cash flow of more than $100K a month during the year and we were able to pay down $1.9 Million in Debt." Gallagher continued, "Even though we have now turned profitable we still have a long way to go in strengthening our balance sheet and continuing to reduce our debt and eventually seeking an exchange listing. I believe these two factors more than anything else are the reason our stock price is trading at less than 1 times 2006 sales with a P/E of 2. We continue to seek accretive acquisition targets as well as other opportunities to grow our business and increase stock holder value."
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