Viper Networks Completes Financial Outlook for 2004
High-Tech Writers / Business Editors SAN DIEGO--(BUSINESS WIRE)--March 2, 2004 Viper Networks, Inc. (OTC:VPER) released today financial guidance and outlook for 2004. Financial Guidance for 2004 is as follows:
-- 2004 consolidated gross revenues should exceed $22 million;
-- Purchase Orders from significant domestic and international
retail chains in Q1 of 2004, with several more in testing,
should provide continued growth in sales and earnings with
increased margins for the retail product segment in 2004;
-- Purchase Orders from distribution channels in Latin American
and the Middle-East in Q1 of 2004, should provide continued
growth in sales and earnings with increased margins for the
consumer product segment in 2004;
-- Adoria Communications, a wholly-owned subsidiary, is on track
to exceed approximately $3.4 million for 2004, representing a
50% increase over 2003;
-- Mid-Atlantic International, Inc., a wholly-owned subsidiary,
experienced record growth for year to date gross revenues and
is on track to exceed approximately $5.3 million for 2004,
representing a 74% increase over 2003;
-- Tremendous synergies between Mid-Atlantic and Adoria are
expected to increase top line revenues and margins, as
operational expenses are consolidated;
-- The newly released IP-PBX product positions Viper Networks in
the business to business market segment where it has received
an overwhelming response from various corporate customers,
including one of America's top real estate company with 400
offices across North America.
Viper Networks Chief Executive Officer, Ron Weaver, commented, "Through a combination of expanding our global VoIP network, aggressive sales of our current and planned products, and our continued focus on acquiring debt-free, profitable companies, we hope to exceed our projected revenue goal of $22 Million for 2004. We feel that it is important to inform our shareholders of our revenue goals as we prepare to file a Form 10SB Registration Statement to the U.S. Securities and Exchange Commission in the next 45 days."
About Viper Networks Inc.
Viper Networks Inc. is a diversified technology development company who markets innovative products and services including its "vPhone," a USB telephone device for Voice over the Internet calling, and other related products that run over its global IP network. Viper Networks also maintains investments in related technology companies in the wireless, IP-based services and other unique emerging technologies. Viper Networks is a publicly traded Utah corporation with headquarters in San Diego, California. For more information about Viper Networks Inc. and a full description of our network of companies, please visit www.vipernetworks.com.
Except for the historical information contained herein, this press release contains forward-looking statements that involve risks and uncertainties. Actual results may differ materially from the results predicted and reported results should not be considered an indication of future performance. In addition to the factors discussed in the filings with the Securities and Exchange Commission, among the other factors that could cause actual results to differ materially are the following: adverse changes in the business conditions and the general economy; competitive factors, such as rival companies' pricing and marketing efforts; availability of third-party material products at reasonable prices; the financial condition of the customer; risks of obsolescence due to shifts in market demand; and litigation involving product liabilities and consumer issues. Viper Networks Inc. cautions readers not to place undue reliance upon any such forward looking statements, which speak only as of the date made. Viper Networks Inc. expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any such statements to reflect any change in the company's expectations or any change in events, conditions or circumstances on which any such statement is based. The Company does not undertake a duty to update information provided regarding its expected operating results. The Company may provide information in future public announcements regarding its outlook that may be of interest to the investment community. The format and extent of future outlooks may be different from the information contained in this release. This release contains certain non-generally accepted accounting principles ("GAAP") financial measures and other terms.
CONTACT: Viper Networks, Inc. Jason Sunstein, 888-375-7270 Jason@vipernetworks.com
Last Updated: March 2, 2004 08:30 EST