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TelePlus Announces a Record-Breaking First Quarter for 2006: Revenues Reached an Astounding $6.79 Million With Positive EBITDA and Net Income
Internet Wire via COMTEX
May 12, 2006 4:00:00 PM
MONTREAL, May 12, 2006 (MARKET WIRE via COMTEX News Network) --
TelePlus Enterprises, Inc. (OTC BB: TLPE) (Frankfurt: YT3) (www.teleplus.ca) ("TelePlus" or the "Company") is pleased to announce its full financial results for the quarter ending March 30, 2006 ("Q1"). Total revenues reached $6,797,553. This represents the largest revenue recorded in a single quarter for the Company. EBITDA (defined as earnings before interest, taxes, depreciation and amortization) was positive at $676,102. Net Income from Continuing Operations was $198,502. After a one-time write-off from Discontinued Operations, Net Income was $37,151. Discontinued Operations represent the divestiture of the Retail operation in Q1. Cash flow from operations was also positive $296,729 for the quarter.
"We are thrilled with these record financial results," said Marius Silvasan, CEO of TelePlus. "We've seen strong growth for our newly acquired wireless brand, Liberty Wireless, and these results clearly demonstrate that management has made the right decisions throughout 2005 by shifting TelePlus away from its retail operation to growing it into a full Telecom provider in North America," added Silvasan. "The wireless prepaid industry will grow to $32 billion by 2008 and management has positioned TelePlus as a key player in the MVNO arena. With very strong fundamentals, a resilient management team and a clear vision for the future, TelePlus is poised to continue providing sustained value to its shareholders," added Silvasan. "All the elements are now in place for TelePlus to deliver strong top line revenues in excess of $30 million for 2006," commented Silvasan.
TELEPLUS ENTERPRISES, INC. CONSOLIDATED STATEMENTS OF OPERATIONS (ALL NUMBERS ARE IN USD) Three Months Ended March 31 2006 ----------Net revenues 6,797,553Cost of Revenues 4,127,240 ----------Gross Margin 2,670,313General, Administrative and Selling 1,994,211 ----------Income (loss) before interest, income taxes , depreciation and amortization and discontinued operations 676,102Depreciation, Amortization, Interest Expense 477,601 ----------Income (loss) before Income Taxes 198,502Income Taxes - ----------Net income (loss) from Continuing Operations 198,502Net loss on Discontinued Operations (161,351) ----------Net Income (loss) for the Year 37,151Income (Loss) per shareFrom continuing operations 0.03From discontinued operations (0.02) ----------Net income (loss) per share 0.01Weighted average shares outstanding: 86,403,786 ========== About TelePlus (OTC BB: TLPE) http://www.TelePlus.ca
TelePlus Enterprises, Inc. ("TelePlus") is a diversified North American telecommunications company with offices in Miami, Florida; Montreal, Quebec; and Barrie, Ontario. TelePlus was founded in 1999 and it has since become a leading provider of wireless and telecommunications products and services across the U.S.A. and Canada. In October 2003, TelePlus became a publicly traded Company on the OTCBB under the symbol TLPE and since then it has continued to grow organically and through strategic acquisitions. The company's wholly-owned subsidiaries include TelePlus Wireless, Corp. which operates a virtual wireless network selling cellular network access to consumers and distributors in the United States under the "Liberty Wireless" brand and TelePlus Connect, Corp. which resells landline, long distance and Internet services in Canada under the "Telizon," "Freedom" and "Avenue" brands.
The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties, including but not limited to risks associated with the uncertainty of future financial results, additional financing requirements, development and acquisition of new product lines and services, government approval processes, the impact of competitive products or pricing from technological changes, the effect of economic conditions and other uncertainties, and the risk factors set forth from time to time in the Company's SEC reports, including but not limited to its annual report on Form 10-KSB; its quarterly reports on Forms 10-QSB; and any reports on Form 8-K. TelePlus Enterprises, Inc. takes no obligation to update or correct forward-looking statements.
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