BETHESDA, Md., Feb 14, 2005 /PRNewswire-FirstCall via COMTEX/ -- MobilePro Corp. (MOBL, Trade) announced today results from the company's fiscal third quarter ended December 31, 2004. The company generated record revenue of $17,127,133 and reported a net loss of $2,954,890 or ($0.01) per share. Exclusive of acquisition related costs, the company had Earnings Before Interest Taxes Depreciation and Amortization (EBITDA) of $1,098,580.
The quarterly revenue represented a 244.7% increase in revenue over $4,968,069 reported in the second fiscal quarter ended September 30, 2004. For the month of December 2004, the company had revenue of $8,213,863 and net income of $44,855. Davel Communications generated EBITDA of $628,147 in the month of December.
At the end of the third fiscal quarter, the company had cash and cash equivalents of $5,666,524 and book equity of $22,288,284, or 6.4 cents per share. Complete operating results will be available in the company's Form 10- QSB that will be filed at the end of the day with the Securities and Exchange Commission. The form will be viewable on the website at http://www.hawkassociates.com/mobilepro/sec.htm .
Jay Wright, MobilePro chairman and CEO, said, "We are pleased with the continued growth of the company in the fiscal third quarter. We closed three significant acquisitions, greatly strengthened our balance sheet, deepened our management team, made continued progress on the development front and put the company in its strongest financial position ever. Perhaps most importantly, we moved further into the black at the operating level, excluding acquisition related expenses."
Wright said, "Based on our December revenue and EBITDA, and adjusting for certain one-time charges, seasonality, our planned cost cuts and the anticipated closing of two potential acquisitions, which we are in late-stage discussions with (but no other growth or decline of revenue), we expect fiscal 2006 (year ending March 31, 2006) revenue of approximately $116 million, EBITDA of approximately $17.2 million and basic earnings per share of approximately $.022. We are also looking at other potential acquisitions, which could boost these numbers."
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