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Hannibull
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MobilePro Announces Record Annual Results
PR Newswire - June 29, 2006 09:18
Company Reports Revenue Increase of 112.9% to $99M; Adjusted EBITDA Up $5M


BETHESDA, Md., June 29, 2006 /PRNewswire-FirstCall via COMTEX/ -- MobilePro Corp. (OTC Bulletin Board: MOBL) announced today that it generated record revenue and record adjusted EBITDA in its 2006 fiscal year ended March 31, 2006.

(Logo: http://www.newscom.com/cgi-bin/prnh/20040414/FLWLOGOLOGO )

Revenue totaled $99 million, up 112.9% from $46.5 million in the prior fiscal year. Gross profit was $49.9 million, up 108.4% from $24 million in fiscal 2005. Earnings before interest, taxes, depreciation and amortization (before minority interest), normalized for one-time charges related to litigation, goodwill impairment and restructuring, was $3.44 million, up almost $5 million from a negative $1.45 million in the prior fiscal year. Net loss, due primarily to the non-recurring charges, increased to a loss of ($10,176,407), or ($0.025) per share, from ($5,359,722), or ($0.019) per share. Excluding non-recurring charges, net loss improved to $3.83 million, or $0.009 per share. Expenses related to the company's municipal wireless division totaled $1.96 million in fiscal 2006.

Jay Wright, chairman and CEO of MobilePro, said, "Fiscal 2006 was, in my view, an excellent year for MobilePro. Not only did we generate record revenue, gross profit and adjusted EBITDA, but we accomplished that while investing nearly $2 million in our municipal wireless division, allowing us to build one of the leading wireless broadband companies in North America. Our strategy of using cash flow from our non-wireless assets to partially fund our wireless deployments appears to be solidly on track and we expect to continue to push aggressively along this path.

"Excluding non-recurring and non-cash charges, we showed meaningful improvement at the net income line," said Wright. "We also showed tremendous strengthening of our balance sheet with cash up, current and total liabilities down, and equity up to more than $50 million. With planned additional steps to further strengthen our balance sheet, we believe we are well positioned to continue to execute our business strategy."

Jerry Sullivan, president and chief operating officer of MobilePro, said, "We have made significant progress in our wireless division and improved our overall operating efficiencies in the five months that I have been with MobilePro. Our operations continue to be streamlined with the goal of providing the best customer experience possible and improving our operating margins. In fiscal year 2007, we will move forward with our scheduled municipal Wi-Fi deployments, continue to improve and consolidate our company- wide operations and lay the foundation for building substantial shareholder value."

MobilePro will hold a conference call today to discuss its fiscal year results. To participate, call toll-free (888) 338-6760 any time after 4:05 p.m. Eastern. International and local callers should dial (973) 582-2858. While in conference, if callers should experience any difficulty or require operator assistance, they can press the (*) followed by the (0) button. This will call an operator to the line.

A live audio webcast will be available on the Internet at http://viavid.net/dce.aspx?sid=000032AE . The call will be archived at this link for one month following the call. This event is optimized for Microsoft's Windows Media Player version 9. To download the latest version of Windows Media Player, go to http://www.microsoft.com/windows/windowsmedia/download .

MobilePro's complete financial results will be available at http://www.sec.gov after the company files its form 10-KSB later today.

About MobilePro Corp.

MobilePro Corp., based in Bethesda, Md., is one of North America's leading wireless broadband companies. The company serves more than 220,000 total customer lines throughout the United States, primarily through its CloseCall America, AFN and Kite Network subsidiaries. Detailed information about MobilePro can be found at http://www.mobileprocorp.com .

An investment profile about MobilePro Corp. may be found online at http://www.hawkassociates.com/mobilepro/profile.php .

For more information regarding MobilePro, contact Alan Crancer, vice president of marketing, at (601) 898-1142. For investor relations information regarding MobilePro, contact Frank Hawkins or Julie Marshall, Hawk Associates, at (305) 451-1888, e-mail: info*hawkassociates.com . An online investor relations kit including copies of MobilePro press releases, current price quotes, stock charts and other valuable information for investors may be found at http://www.hawkassociates.com and http://www.americanmicrocaps.com .

Certain of the statements contained herein may be, within the meaning of the federal securities laws, "forward-looking statements," which are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. See the company's Form 10-KSB for the fiscal year ended March 31, 2006 (to be filed later today) for a discussion of such risks, uncertainties and other factors. These forward-looking statements are based on management's expectations as of the date hereof, and the company does not undertake any responsibility to update any of these statements in the future.

---
in at 0.181

Posts: 1091 | From: Brugge, Belgium / Dallas TX USA | Registered: May 2006  |  IP: Logged | Report this post to a Moderator
Hannibull
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0.19 x 0.191

wall on the ask seems a bit big though, what do you guys think?

Posts: 1091 | From: Brugge, Belgium / Dallas TX USA | Registered: May 2006  |  IP: Logged | Report this post to a Moderator
J_U_ICE
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MOBL (.19) NeoReach Executes Agreement for $2M in Lease Financing
Company's Wireless Subsidiary to Use Funds for Additional Build-Outs
Jun 29, 2006 11:57:00 AM

BETHESDA, Md., June 29 /PRNewswire-FirstCall/ -- MobilePro Corp. (OTC Bulletin Board: MOBL) announced today that its subsidiary NeoReach, Inc. has executed a definitive agreement to obtain $2 million of lease financing. NeoReach expects to close the financing within the next few business days.

(Logo: http://www.newscom.com/cgi-bin/prnh/20040414/FLWLOGOLOGO )

Jay Wright, chairman and CEO of MobilePro and chairman of NeoReach, Inc., said, "We are pleased to announce that NeoReach has executed a definitive agreement to obtain $2 million of lease financing from a syndicate of lessors. The financing does not require the issuance of any shares or warrants and therefore represents, in my view, a favorable non-dilutive deal for our shareholders. I am hopeful that this is the first of many such opportunities to leverage the equipment owned and to be purchased by our wireless subsidiaries, to raise capital for future Wi-Fi build-outs without requiring equity issuance at the MobilePro level."

About MobilePro Corp.

MobilePro Corp., based in Bethesda, Md., is one of North America's leading wireless broadband companies. The company serves more than 220,000 total customer lines throughout the United States, primarily through its CloseCall America, AFN and Kite subsidiaries. Detailed information about MobilePro can be found at http://www.mobileprocorp.com .

An investment profile about MobilePro Corp. may be found online at http://www.hawkassociates.com/mobilepro/profile.php .

For more information regarding MobilePro, contact Alan Crancer, vice president of marketing, at (601) 898-1142. For investor relations information regarding MobilePro, contact Frank Hawkins or Julie Marshall, Hawk Associates, at (305) 451-1888, e-mail: info*hawkassociates.com . An online investor relations kit including copies of MobilePro press releases, current price quotes, stock charts and other valuable information for investors may be found at http://www.hawkassociates.com and http://www.americanmicrocaps.com .

Certain of the statements contained herein may be, within the meaning of the federal securities laws, "forward-looking statements," which are subject to risks and uncertainties that could cause actual results to differ materially from those described in the forward-looking statements. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. See the company's Form 10-KSB for the fiscal year ended March 31, 2006 (to be filed later today) for a discussion of such risks, uncertainties and other factors. These forward-looking statements are based on management's expectations as of the date hereof, and the company does not undertake any responsibility to update any of these statements in the future.

SOURCE MobilePro Corp.

----------------------------------------------

Alan Crancer
vice president of marketing
MobilePro Corp.
+1-601-898-1142; or investor relations
Frank Hawkins or Julie Marshall
both of Hawk Associates
+1-305-451-1888
or info*hawkassociates.com
for MobilePro

--------------------
The difference between genius and stupidity is that genius has its limits

Posts: 10204 | From: NYC | Registered: Mar 2006  |  IP: Logged | Report this post to a Moderator
Hannibull
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0.196 HOD [Smile]
Posts: 1091 | From: Brugge, Belgium / Dallas TX USA | Registered: May 2006  |  IP: Logged | Report this post to a Moderator
Hannibull
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what do you guys think? bottom play? its at the 52w low now, time to buy ?

http://stockcharts.com/h-sc/ui?s=MOBL&p=D&yr=2&mn=0&dy=0&id=p58929820343

Posts: 1091 | From: Brugge, Belgium / Dallas TX USA | Registered: May 2006  |  IP: Logged | Report this post to a Moderator
   

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